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Cryptocurrency prices have been on a rollercoaster ride lately, and institutional interest in digital assets is skyrocketing. 21Shares, a leading provider of cryptocurrency exchange-traded funds (ETFs), has applied to the US Securities and Exchange Commission (SEC) to introduce staking options for its Ether ETF.

This move could pave the way for greater integration between traditional finance and decentralized technologies. As the SEC continues to evaluate the application, let's take a closer look at the potential implications for the crypto market.

Institutional interest in crypto ETFs has been growing rapidly, and several applications are currently pending before the SEC. These products aim to provide investors with an easy and regulated way to gain exposure to digital assets.

If approved, 21Shares' Ether ETF would allow traders to stake their Ethereum (ETH) holdings and earn rewards without having to run their own nodes or interact directly with decentralized protocols. This user-friendly approach could significantly expand the appeal of crypto staking among institutional investors.

To address regulatory concerns, Cboe Exchange, which operates the Cboe BZX Equities Exchange, has applied to the SEC to offer a "point and click staking" method. This technique would enable traders to stake their holdings without moving their ETH from the exchange's custody wallet.

This application, if approved, could streamline the staking process and make it more accessible to a broader range of investors. Given the SEC's recent crypto-friendly stance, this staking option could be available as early as October 2024.

Crypto prices rebound sharply after hitting multi-month lows

Cryptocurrency prices staged a sharp rebound on Friday, March 21, after hitting multi-month lows earlier this week. Several factors contributed to this positive price action, including technical oversold conditions and anticipation of upcoming regulatory approvals.

After a sustained downturn that saw ETH跌破 the critical $2,000 support level, recent price movements signaled a potential reversal. As of Friday morning, ETH rebounded by over 7% and approached the $2,650 resistance level.

This rebound coincided with a surge in trading volume, which exceeded 150% compared to the previous day's levels. This strong participation in the market suggests that the recent price movements could be setting the stage for further momentum.

Ethereum's technical indicators also pointed to bullish勢頭, with the Momentum Indicator and MACD showing positive values and no bearish crossovers yet. These observations led analysts to anticipate a major rally toward the critical $3,000 psychological level if the upward movement is confirmed.

After hitting multi-month lows,𝘾𝙚ntralized cryptocurrency exchanges (CEXs) saw a surge in buying pressure, which might indicate institutional investors entering the market at these lower price points. This observation aligns with the recent institutional interest in crypto ETFs and Web3 gaming projects.

suggesting that institutional investors might be entering the market at these lower price points. This aligns with the recent institutional interest in crypto ETFs and Web3 gaming projects, such as Rollblock Casino, which sold out its presale Tier 1 and 2 slots in record time.