Sec Approves All Spot Ethereum ETFs
In a long and arduous journey to global relevance, the long-awaited and anticipated Spot Ethereum ETF approval has finally been approved by the US Securities and Exchange Commission (SEC). This news comes as a light at the end of the tunnel as the battle for the ETH/ETF approval has lingered for months keeping analysts and crypto enthusiasts expectant.
See Also: Breaking : Spot Bitcoin ETFs Introduced In Hong Kong
Before the approval, several applications for the Spot Ethereum ETF have been sent by large multinational organizations such as VanEck, ARK21 Shares, Hashdex, Invesco Galaaxy, Franklin Templeton, Fidelity, and the world’s largest asset manager, BlackRock. This goes to show how important the Spot ETH ETF approval has been to the crypto community.
Ethereum & Crypto Market Future Potential
The decision by the US Securities and Exchange Commission SEC makes the ETH/ETF the second crypto-based ETF in the country, the first ever being the Bitcoin ETF, which was approved earlier this year 2024 and also saw a positive impact in the cryptocurrency market.
See Also: The Rise of Cryptocurrency: Bitcoin ETF Leads the Charge
Analysts and pundits will also be anticipating a positive impact in the already growing crypto market due to the SEC’s approval of the spot Ethereum ETF. The approval of the ETH/ETF should also see a lot of capital injection into the crypto market by hedge funds and large capital organizations, taking the market to another bullish break.
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