Ether, Lido DAO, Arbitrum Gain on Possibility of ETH ETF

Lyllah Ledesma


Ether (ETH) and native tokens of applications built on Ethereum surged in the past 24 hours as traders bet on the possibility of an ether exchange-traded fund (ETF) following the expected approval of a bitcoin ETF in the U.S. Ether exchanged hands over $2,400 in early European hours Wednesday, up 5% in 24 hours. LDO, the governance token of the decentralized autonomous organization (DAO) behind liquid-staking system Lido, gained over 20% while the ARB token of Ethereum scaling solution Arbitrum rose almost 17%. Bitcoin fell 2.2%. BlackRock has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for its iShares Ethereum Trust, a spot ether ETF.


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