The Spot Bitcoin ETF recorded net outflows of $152 million on Tuesday.
Cryptocurrency markets rose on Wednesday after the SEC officially ended its investigation into Ethereum 2.0.
Bitcoin is trading relatively flat while Ethereum surged 4% for a monthly gain of 14%, while Polkadot and Solana rose 3%.
Many tokens closely tied to Ethereum, including Lido DAO’s governance token (LDO), Ethereum Name Service (ENS), and Maker (MKR), have risen between 12% and 20% in the past 24 hours.
Yield-trading protocol Pendle was today’s biggest winner among the top 100 digital assets by market cap, surging 21%.
On June 18, ConsenSys, the blockchain software developer that recently sued the SEC for attempting to classify ETH as a security, announced that the SEC was closing its investigation into Ethereum.
“The SEC's Enforcement Division has notified us that it is closing its investigation into Ethereum 2.0,” ConsenSys posted on X. “This means that the SEC will not be suing over claims that sales of ETH are securities transactions.”
Ethereum 2.0 is a term previously used to describe Ethereum’s transition to a Proof of Stake (PoS) network.
Spot Bitcoin exchange-traded funds (ETFs) saw net outflows of $152 million on Tuesday, continuing their fourth consecutive day of outflows. Fidelity's FBTC led the way with $83 million, followed by Grayscale's GBTC with $62 million, according to data from Farside.
Meanwhile, U.S. stocks were up slightly on Wednesday, with the Dow Jones Industrial Average up 0.15%, the Nasdaq Composite index flat and the S&P 500 up 0.30%.
