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US SEC Allows Ether Spot ETFs for First Time – Trading to Begin Today
As can be seen from documents and reports from asset managers, the SEC has approved so-called exchange-traded ETFs based on Ether for the first time in US history. Accordingly, trading should begin this Tuesday. Market reaction is manageable as investors are anticipating the final approval in advance. The effect of recently approved investment vehicles can be felt only in the medium term.
Ether marks another important milestone in the history of Spot ETFs approval
According to documents dated Monday evening, the issuers are said to be 21Shares, Bitwise Asset Management, BlackRock, Invesco, Franklin Templeton, Fidelity and VanEck.
This decision marks a significant milestone in history and now makes second tier crypto assets socially acceptable. This is a further step in the investment centric stream and underlines the recent turnaround in the sector. Regulatory thumbs are loosening further.
Investors are especially looking for an influx of new cash flows through new forms of investment. At the same time, the final output should create more confidence.
The SEC had already cleared the way for new investment vehicles in May, but had not given final approval for the final commencement of trading. Bitcoin-based collateral was approved for the first time in January 2024, after the grayscale provider received support from a US court in 2023.
Price war among providers – may reach the $4,000 mark
The Ether ETF price war that has already erupted should also be exciting. Many providers have already announced their intention to temporarily waive fees partially or fully to attract assets.
From a technical chart perspective, a continued capture of the 3,600 mark will continue to be important for investors. Only then can the $3,800 and $4,000 barriers be overcome. It remains to be seen how today’s trading opening will be and how much interest there will actually be.