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"Tokens in the ETH ecosystem like LIDO, ENS, and MKR experienced sharp up moves which should continue to take the attention away from BTC as traders now must position for the possibility of an ETH ETF," said Jack Tan co-founder of crypto exchange WOO X, in a Telegram message.Thirteen issuers, including traditional finance giants BlackRock and Fidelity, are currently in line for a spot bitcoin ETF whose approval is widely anticipated later on Wednesday.Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.
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