The SEC has recently given the green light for various spot Ether ETFs (exchange-traded funds) to begin trading.
Ether, which is the cryptocurrency associated with the Ethereum network, is the second-largest digital currency by market capitalization.
See Also: The SEC Confirms Smooth Approval Process for Ethereum ETF
List Of Approved Spot Ether ETFs
As of Monday evening, the following spot Ether ETFs had received approval from the SEC and are now cleared for trading:
- 21Shares Core Ethereum ETF (CETH)
- Bitwise Ethereum ETF (ETHW)
- Fidelity Ethereum Fund (FETH)
- Franklin Ethereum Trust (EZET)
- Invesco Galaxy Ethereum ETF (QETH)
- iShares Ethereum Trust ETF (ETHA)
- VanEck Ethereum ETF (ETHV)
At the time of writing, updated filings for the Grayscale Ethereum Trust (ETHE) and Grayscale Ethereum Mini Trust (ETH) were still pending.
The introduction of spot bitcoin ETFs earlier in the year has already significantly impacted the demand for bitcoin (BTC), contributing to its all-time high in March.
According to Bloomberg Intelligence analyst, James Seyffart, it is anticipated that spot Ether ETFs might attract approximately 20% to 25% of the investment flows that spot bitcoin ETFs experienced during their initial months.
Additionally, Bitwise’s Chief Investment Officer, Matt Hougan, has suggested that these new Ether ETFs could potentially push Ether prices to exceed $5,000. Hougan has forecasted that the new ETFs might attract up to $15 billion in new investments over the next 18 months.
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