Ethereum

Grayscale Bitcoin Trust

Spot

BlackRock

The Securities and Exchange Commission (SEC) has approved the inaugural <a href="https://optimisus.com/press-releases/eth-etf-launch-how-will-it-influence-ethereum-and-altcoins/" rel="noopener noreferrer nofollow">Ethereum Exchange-Traded Fund (ETF)</a>, representing a noteworthy achievement for both Ethereum and the cryptocurrency sector.  
This clearance signifies the increasing recognition and endorsement by institutions, enabling investors to participate in Ethereum directly through a regulated financial product.  
Companies such as 21Shares, Bitwise Asset Management Inc., BlackRock Inc., Invesco Ltd., Franklin Templeton, Fidelity Investments, and VanEck are anticipated to take part in the Spot Ethereum ETFs, which are projected to stimulate greater investment and liquidity in the market. The market reaction to the announcement of Ethereum was somewhat muted, as its price experienced a decline of 1.32%, which is a common response known as a the sell-the-news reaction. Matteo Greco, a Research Analyst at Fineqia, stated that there will be initial outflows from the ETFs, contributing to the selling pressure.  
The Grayscale Ethereum Trust (ETHE), which currently lacks redemption options for investors, could potentially witness net outflows comparable to those observed with the Grayscale Bitcoin Trust (GBTC) upon the introduction of BTC Spot ETFs.  
Spot On Chain has reported a notable transaction involving an Ethereum whale known as 0xf26. The whale deposited 8,762 ETH, which is worth over $30.34 million, into Binance.  
Currently, the act of selling would lead to an approximate loss of $3.67 million, which is a significant decline of 10.8% over about two months. This behavior is consistent with the initial outflows anticipated from the recently approved ETFs. Ultimately, although the Securities and Exchange Commission's endorsement of the inaugural Ethereum Exchange-Traded Fund represents a noteworthy achievement, the market's early response has been unexpectedly subdued.  
The permission facilitates the possibility of larger investments from institutions and wider adoption of Ethereum, which might result in enhanced market stability and long-term growth. 
The post <a href="https://optimisus.com/news/crypto-news/the-us-sec-approves-the-first-ever-ethereum-etf-marking-a-major-milestone/" rel="noopener noreferrer nofollow">The US SEC approves the first-ever Ethereum ETF, marking a major milestone</a> appeared first on <a href="https://optimisus.com" rel="noopener noreferrer nofollow">Optimisus</a>.

The US SEC approves the first-ever Ethereum ETF, marking a major milestone

Optimisus

Other articles published on Jul 23, 2024

Fidelity, Managing $5 Trillion, Publishes Report on the Future of Ethereum

Hamilton Lane Launches Credit Fund

Mt.Gox Moves Out Another 2,239 Bitcoins (BTC) Today, Totals 52,425 BTCs Worth $3.292 Billion!

After Bittensor's $8M Hack, Investors Flock to MoonBag's Transparent and Lucrative Ecosystem

As Base hits THIS major milestone, how it compares to other L2s

Determining the Future of Blockchain Technology: Star Wars Defenders Between VeChain and MoonBag

Join our free newsletter for daily crypto updates!