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The attorneys representing Nathaniel Chastain informed the court that Chastain will self-surrender on Nov. 2 to begin serving his sentence. A former manager at nonfungible token (NFT) marketplace OpenSea sentenced to three months in prison for insider trading has opted to serve the sentence while his appeal is pending . On Sept. 6, Nathaniel Chastain’s lawyers filed a letter with a New York District Court informing the judge that Chastain decided to withdraw his application for bail pending appeal. As a result, per the court's previous order and judgment, Chastain will self-surrender by Nov. 2 to begin serving his sentence while his appeal is pending . Screenshot of the letter from Chastain’s lawyers. Source: CourtListener Chastain, a former OpenSea product manager, was convicted on May 3 on counts of wire fraud and money laundering and on Aug. 22 was sentenced to three months in prison for offenses relating to insider trading on the NFT platform. He was also ordered to pay a $...

Bitwise was among a number of asset managers looking to launch spot Bitcoin exchange-traded funds in the United States. In an unexpected turn of events, Bitwise submitted a request to retract its application for its Bitcoin and Ether Market Cap Weight Strategy exchange-traded fund (ETF), initially filed with the United States Securities and Exchange Commission (SEC) on Aug. 3. While market sentiment turned bullish following Grayscale’s SEC victory, Bitwise appears to be reassessing its strategy. The withdrawal of the ETF application was unexpected; however, in the filing, a statement read, “The fund seeks to provide investors with capital appreciation. There can be no assurance that the fund will achieve its investment objective.” Bitwise chief investment officer Matt Hougan advocated for SEC approval of all ETFs in a recent Bloomberg interview. The ETF intended to invest in either Bitcoin (BTC) futures contracts or Ether (ETH) futures contracts, determined by market capitalization....

ProShares has filed for an equal weight Bitcoin and Ether ETF, marking the 11th Ether ETF application in less than seven days. The United States Securities and Exchange Commission (SEC) has been recently inundated with applications for Ether (ETH) futures exchange-traded funds (ETFs), with a grand total of 11 Ether-based filings being submitted in less than a week.  The latest ProShares ETF application was filed on Aug. 3 and proposes an equal weight Bitcoin (BTC) and Ether ETF. According to the filing, the fund will track "the performance of holding long positions in the nearest maturing monthly bitcoin and ether futures contracts." UPDATE: Another one.... 11 ETFs Filed... Proshares filed for a 4th ETF with Ethereum futures. This one is an equal weight #Bitcoin & #Ethereum ETF just like Bitwise's filing which dropped an hour ago. https://t.co/vB05Wvt33e pic.twitter.com/u3I3LzznGZ — James Seyffart (@JSeyff) August 3, 2023 According to Bloomberg ETF analyst James Se...