A diminutive Japanese dog who became the face of Dogecoin has died.

Kabosu, who inspired the viral Doge meme and became the face of the satirical cryptocurrency championed by Elon Musk, passed away on Friday at the age of 18, her owner said.

The Shiba Inu had been seriously ill with liver disease and leukemia since 2022.

"To all of you who loved Kabosu — on the morning of the 24th of May, Kabosu crossed the rainbow bridge," Kabosu's owner, Atsuko Sato, wrote on Instagram.

At the start of the year, Bitcoin received the inaugural crypto-based ETF in the United States. Shortly after, all eyes were directed to what asset could receive the next approval. Now, that question seems to be answered, with the SEC likely to approve Ether’s iteration of the investment product.

The arrival of a Spot Ethereum ETF should have a profound impact on the market overall. Indeed, Bitcoin and Ethereum are both projected to reach all-time highs following the product’s arrival, according to Standard Chartered Bank.

The SEC has signaled that it may soon approve spot Ethereum ETFs, a move that would open up Ethereum investment products to a wider range of investors. This would be a major milestone for the Ethereum ecosystem.

According to a recent Barron’s report, the SEC informed exchanges that it is leaning towards approving spot Ethereum ETFs. On Monday, reports emerged that the SEC had changed its stance on these Ethereum funds and decided to accelerate the review process for applicants.

Currently, the SEC only permits ETFs holding Ether futures. Approval would allow ETFs to hold the currency itself. On Tuesday, the SEC asked exchanges to update their 19B-4 filings for their spot Ethereum ETFs, speeding towards a potential approval.

In a 60 to 38 vote, United States senators passed H.J. Res. 109, a resolution nullifying the U.S. Securities and Exchange Commission’s (SECs) Staff Accounting Bulletin No. 121. The commission’s rule requires banks to keep customers’ digital assets on their balance sheets, with capital maintained against them — a measure many lawmakers and industry leaders have criticized as stifling innovation.

However, before the resolution passed in the U.S. House of Representatives, President Joe Biden said he intended to veto the bill to “protect investors in crypto-asset markets and to safeguard the broader financial system.”

However, Perianne Boring, founder and CEO of the Blockchain Trade Association Digital Chamber, believes that support from 21 Democratic Party senators could force the White House to “rethink its strategy and position.” In her opinion, “the tides are turning for crypto in Washington.”

Firms looking to list and trade shares of spot ether exchange-traded funds are being asked by the U.S. Securities and Exchange Commission to update and refile documents that are pivotal if those products were to be approved, according to news reports.

Those filings, called Form 19b-4, are filed to let the SEC know about a proposed rule change and are among the documents that need the agency's greenlight before spot ether ETFs can become effective.

The outlook for a spot ether ETF has taken an optimistic turn. Bloomberg ETF analysts James Seyffart and Eric Balchunas now say that the chances of the SEC approving such a product have increased from 25% to 75%.

Sixty crypto organizations are backing a market structure bill that is teed up for a vote next week.

The signers urged House lawmakers to pass the bill in a letter led by the Crypto Council for Innovation and sent to House Speaker Mike Johnson and House Minority Leader Hakeem Jeffries on Thursday. FIT21 would raise "new compliance challenges" for crypto firms, but clear rules are needed, the groups said.

"Currently, digital assets firms are instructed to somehow comply with U.S. securities laws that were designed nearly 100 years ago without consideration of the technological advances of today, including the ability for transactions to move at the speed of the internet," they said in the letter.