SEC Approves Ethereum Spot ETFs: Market Reactions
The U.S. Securities and Exchange Commission (SEC) has approved the applications for Ethereum spot ETFs from several asset managers, including BlackRock and Fidelity. This marks a significant milestone as it was previously considered unlikely that such approvals would be granted. The approval initially covers "19b-4" filings, which are essentially intent declarations by an exchange to list a financial product. Experts anticipate that the actual “S-1” application will also receive approval in the coming weeks.
Following this news, Ethereum's price saw a slight increase of 2%, with its value currently at $3,843 USD. Over the past month, Ethereum has surged by 30%. Dr. Ulli Spankowski from BISON expressed optimism about this development potentially driving Ethereum to new heights and acting as a catalyst for the broader crypto market. Read more on BTC-ECHO | Bitcoin & Blockchain since 2014
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Ethereum ETFs After Approval: How Investors Can Benefit
The SEC’s green light for Ethereum ETFs came unexpectedly late Thursday night after U.S. markets closed. While these funds simplify trading for retail investors and open up opportunities for institutional investments into Ether—the second-largest cryptocurrency—German investors won’t have access due to local regulatory constraints.
Timo Emden of Emden Research noted that despite initial muted reactions in ETH prices post-announcement—with Ether recently priced around $3,640 USD—it is expected that volatility may rise shortly thereafter. Learn more on WirtschaftsWoche
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