An exchange-traded fund (ETF) application was submitted to the U.S. Securities and Exchange Commission (SEC) on Wednesday by asset managers ARK Invest and 21Shares. The ETF would directly hold ether (ETH), coin telegraph reported.
Also Read: Bitcoin treads water below $26K
The Ark 21Shares Ethereum ETF is the first attempt to list such a fund in the U.S. that directly invests in ETH, the second largest cryptocurrency by market capitalization.
The fund would custody the assets with Coinbase (COIN) Custody Trust Company.
The news initially sent ether and bitcoin higher, but the rally proved short-lived and both cryptos have returned to prices seen ahead of the filing.
The filing follows a slew of applications for a much-coveted spot bitcoin ETF, including a joint attempt from Ark and 21Shares. The SEC last week delayed decision on all of those applications.
The filing also comes ahead of what’s expected to be SEC approval of the first futures-based ether ETF. A decision from the SEC is expected on or before mid-October.
The industry will likely push for more crypto ETFs, emboldened by trust issuer Grayscale’s recent court victory against the SEC, broker Bernstein said in a report last month. A spot ETH ETF will be a top contender, the report said, given its similar market structure to BTC with actively traded futures and spot markets on the Chicago Mercantile Exchange (CME), a key regulated marketplace for institutional investors.
Apple unveils iPhone 15 Pro and iPhone 15 Pro Max
Apple unveils iPhone 15 Pro and iPhone 15 Pro Max, featuring a strong and lightweight titanium design with new contoured edges, a new Action button, powerful camera upgrades, and A17 Pro for next-level performance and mobile gaming.
Apple on Tuesday evening debuted iPhone 15 Pro and iPhone 15 Pro Max, designed with aerospace-grade titanium that’s strong yet lightweight to deliver Apple’s lightest Pro models ever.
The new design also features contoured edges and a customisable Action button, allowing users to personalise their iPhone experience. Powerful camera upgrades enable the equivalent of seven pro lenses with incredible image quality, including a more advanced 48MP Main camera system that now supports the new super-high-resolution 24MP default, the next generation of portraits with Focus and Depth Control, improvements to Night mode and Smart HDR, and an all-new 5x Telephoto camera exclusively on iPhone 15 Pro Max.
A17 Pro unlocks next-level gaming experiences and pro performance. The new USB‑C connector is supercharged with USB 3 speeds — up to 20x faster than USB 2 — and together with new video formats, enables powerful pro workflows that were not possible before.
iPhone 15 Pro and iPhone 15 Pro Max will be available in four stunning new finishes, including black titanium, white titanium, blue titanium, and natural titanium. Pre-orders begin Friday, September 15, with availability beginning Friday, September 22.
“This is the most pro lineup Apple have ever created, with a state-of-the-art titanium design, the best iPhone camera system yet that enables game-changing new workflows, and the A17 Pro chip, which ushers in a new chapter of performance and games never before seen on iPhone,” said Greg Joswiak, Apple’s senior vice president of Worldwide Marketing.
“iPhone 15 Pro and iPhone 15 Pro Max represent the best of Apple design and industry-first innovations to help enrich the everyday experiences of our users, while enabling them to unleash their creativity.”
Bitcoin treads water below $26K
Bitcoin continued its subdued start to the week, having traded below $26,000 for the past 24 hours. BTC held between $25,500 and $25,750 during the Asian trading session today.
Also Read: J&K bank launches Mpay delight +
The enthusiasm following last week’s ruling that the SEC must review its rejection of Grayscale Investments’ application to turn its bitcoin trust into an ETF has subsided, with other applications still kept waiting by the U.S. regulator. The broader crypto market remains in a similarly sideways trend, with the CoinDesk Market Index (CMI) down 0.42% in 24 hours.
Crypto derivatives platform Deribit saw trading volume increase 17% to $42 billion in August even as global activity declined by 12% to around $1.6 trillion.
The driving force behind the increase was Deribit’s options segment, with ETH options recording their highest volumes since March, Chief Commercial Officer Luuk Strijers told CoinDesk.
Bitcoin experienced significant price swings between $25,000 and $30,000, triggering massive liquidations in futures and options on the platform and boosting hedging demand for options contracts. Deribit controls nearly 90% of global crypto options activity.
J&K bank launches Mpay delight +
Important milestone in our digital journey to ensure ease-of-banking for our valuable customers: Baldev Prakash
As a major step towards realizing its digital banking objectives, J&K Bank launched the first phase of its new mobile banking app Mpay Delight + to provide ‘Bank-in-a-Pocket’ experience to its customers.
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MD & CEO Baldev Prakash formally launched Mpay Delight + today in presence of General Managers, Deputy General Managers and senior officers of the Bank here at the Bank’s corporate headquarters.
While congratulating the participants for the new application, MD & CEO J&K Bank, Baldev Prakash said, “Today I am happy to see that the first-phase of Mpay Delight + is in our pockets and well ahead of the timeline. With the new app we have overcome the most severe pain-point in our banking services while covering an important milestone in our digital journey to ensure ease-of-banking for our valuable customers.”
“The second phase will be completed by December this year with all the necessary digital banking features like online journeys for loans, deposits and investment product line. Thereafter, the customer won’t have to go to branch any more as all the core functions of the branch will be managed on Mpay Delight + with much ease and efficiency”, he added.
In his remarks on the occasion, MD & CEO further said, “Best quality products and timely delivery of services are the two critical components of a good strategy that enables organizations to thrive in any kind of competition. And when it comes to banking, the new-age customer is not ready to compromise on either of the two.”
He urged the entire staff to promote the app aggressively so that the Bank’s valuable customers can enjoy the ease, convenience and safety of managing their bank accounts anytime, anywhere without any hassles.
“With so many digital initiatives of the Bank currently in ‘work-in-progress’ stage, I assure all our stakeholders that J&K Bank will be one of the digitally best banks in the country by the end of current financial year”, he asserted while appreciating the entire team of Mpay Delight + for their hard work in devising a highly competitive and feature-rich mobile banking application.
“All of us should continue to do the good-work as a team because the new-age banking calls for more of an advanced and integrated mode of functioning possible only through team-work”, he added.
Earlier, in his welcome address Bank’s General Manager (Strategy & IT) Imtiyaz Ahmad gave an overview of the new application along with its features. He said, “Our previous application has 2 million users which makes it evident that of all the digital banking channels, J&K Bank’s mPay is the mostly used platform by the common people. Today, as of now, the Mpay Delight + has already been downloaded by 1 Lakh Ten thousand users.”
“And with enhanced features and ease-of-function, I am sure we will cross the 2 million mark sooner than we expect after this formal launch”, he added.
The function ended with a vote of thanks presented by the DGM (IT & BPR) Mohammad Muzaffar Wani, wherein he expressed gratitude to all the dignitaries for sparing their valuable time besides thanking organisers of the event. “It might look a very small tool or app that every other bank has. But for us, Mpay Delight + will be a vehicle for achieving our digital transformation goals and it is going to help us in scripting a new business growth story of the Bank”, he said.
Notably, Mpay Delight + is a state-of-the-art mobile banking application with an intuitive and user-friendly interface, making it easy for customers to navigate and access various banking functions. Some of the prominent features include easy account/s management, debit card management, utility bill payments, mobile deposits, alerts and notifications, loyalty management, Chatbot etc. The app has robust security measures in place such as encryption, biometric authentication (like fingerprint or facial recognition), and two-factor authentication (2FA) to protect user data and transactions.
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