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Blockchain & Cryptocurrency
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US SEC Approves Ether ETFs, Surprising Crypto Industry
2024-05-24 15:07:09

US SEC Approves Ether ETFs, Surprising Crypto Industry

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The US Securities and Exchange Commission (SEC) has approved applications from Nasdaq, NYSE, and CBOE to list exchange-traded funds (ETFs) tied to the price of ether, surprising the cryptocurrency industry. This decision could pave the way for the launch of these products later this year.

Nine issuers, including VanEck and BlackRock, are hoping to launch ETFs tied to the second-largest cryptocurrency, following the SEC's approval of bitcoin ETFs in January. The approval of spot ether ETFs signals a significant milestone for Ethereum, potentially leading to increased institutional adoption and market acceptance.

However, there is still some skepticism and concerns about the impact of ETFs on decentralization and self-custody within the crypto industry.

Related news on that topic:

Ethereum ETF Approval and Its Impact on the Crypto Market

The recent approval of spot Ethereum ETFs by the U.S. Securities and Exchange Commission (SEC) has sparked excitement and speculation in the crypto community. VanEck wasted no time in launching an advertisement promoting Ethereum just moments after the approval. Institutional investors are planning to invest $500 million into Ethereum ETFs, anticipating a surge in Ethereum's value. Analysts predict significant potential for Ethereum ETFs, likening it to the boost Bitcoin received from institutional interest. However, there are concerns about regulatory challenges and the potential rejection of ETF applications, which could impact the short-term market outlook for Ethereum. Despite some price declines following the approval, many remain optimistic about the long-term growth potential of Ethereum.

The Future of Ethereum ETFs in the Crypto Market

The potential approval of a spot Ethereum ETF in the U.S. has sparked discussions and speculation among investors and experts. While there is optimism for an Ethereum ETF approval, regulatory complexities and differences from Bitcoin pose challenges. The approval of a spot Ether ETF could lead to a surge in the price of ETH and attract significant inflows of money from traditional market investors. However, there are concerns about possible pullbacks after the initial excitement. Delays in ETF approvals could also impact the U.S. crypto market's position compared to other financial hubs. Analysts project a potential approval between late September and early November, with the price of Ethereum potentially doubling by the end of the year. Bitcoin ETFs are also experiencing increased value due to the anticipation of Ethereum ETFs approval. The SEC's decision on approving or denying these ETFs will significantly impact the short-term market outlook for Ethereum. The potential approval of Ether (ETH) ETFs could put pressure on the SEC to become a more neutral regulator. The rejection of spot Ethereum ETFs may reinforce Bitcoin's unique position in the market. The SEC's challenge to Robinhood's crypto arm is not expected to hinder the eventual approval of spot Ethereum ETFs. However, lengthy legal battles may arise if the SEC labels Ethereum as a security. Scrutiny from regulators regarding the classification of Ethereum as a security could negatively impact the U.S. crypto market. Traders are depositing significant amounts of ETH amid hopes of a spot ETF approval, leading to potential volatility. Bitcoin and Ethereum-based exchange-traded products are set to debut on the London Stock Exchange following approval by the Financial Conduct Authority. Key metrics suggest a potential rally in Ethereum's price, driven by expectations of spot Ethereum ETF approval in the U.S. The CEO of VanEck expresses skepticism towards the approval of a spot Ethereum ETF due to transaction fees and praises emerging blockchain solutions for offering lower costs and faster transactions. The anticipation of U.S. regulators approving spot Ether ETFs has caused tension within the Ethereum developer community. Ether price has surged amid rumors of U.S. spot Ether ETF approval, but analysts believe the likelihood is already factored into the price. The SEC is still reviewing spot Ether ETF applications after receiving updated filings from issuers, extending the decision timeline.

Read 14 more recent news on this topic

The press radar on this topic:

News - South China Morning Post
24. Mai 2024 um 02:36

US approves applications from Nasdaq, NYSE, CBOE to list spot ether ETFs in surprise win for crypto sector | South China Morning Post

Finance
Technology
The US Securities and Exchange Commission (SEC) has approved applications from Nasdaq, NYSE, and CBOE to list exchange-traded funds (ETFs) tied to the price of ether, surprising the cryptocurrency industry. This decision could pave the way for the launch of these products later this year. Nine issuers, including VanEck and BlackRock, are hoping to launch ETFs tied to the second-largest cryptocurrency, following the SEC's approval of bitcoin ETFs in January.
The Street
19. Juni 2024 um 13:15

SEC gives initial greenlight to spot ether ETFs

Finance
The U.S. SEC approved spot ether ETF listings on U.S. stock exchanges, marking a historic move in the mainstream adoption of crypto assets, following similar approvals for bitcoin ETFs. Multiple companies are awaiting approval for their ETFs to officially trade, which could drive institutional adoption of the asset class.
Webrazzi
24. Mai 2024 um 09:15

SEC officially approved spot Ethereum (ETH) ETFs

Finance
The U.S. Securities and Exchange Commission (SEC) has officially announced the approval of spot Ethereum (ETH) ETFs. Applications from VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise have been approved. Following the approval, institutions will be able to list spot Ether ETFs on their exchanges and enable trading.
The Street
31. Mai 2024 um 19:29

Regulators expected to deal major blow to U.S. crypto market

Finance
Regulators are expected to possibly reject applications for spot ether exchange-traded funds by various issuers, including VanEck and Cathie Wood, due to concerns raised by the U.S. Securities and Exchange Commission. The SEC's decision on approving or denying these ETFs will significantly impact the short-term market outlook for ether.
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