🛑🛑The SEC has approved spot Ethereum ETFs, and they started trading on July 23, 2024. Major asset managers like Fidelity, VanEck, BlackRock, Grayscale, Franklin Templeton, Bitwise, 21Shares, and Invesco are launching these ETFs .
Initial market projections suggest moderate demand, with investments potentially reaching around $4 billion over the next year, which is significantly lower compared to the $17 billion that spot Bitcoin ETFs have garnered since their debut . One reason for this tempered demand is that these ETFs will not be allowed to stake their Ethereum holdings, which could have provided additional income for investors .
Despite these challenges, the approval is seen as a significant milestone for Ethereum and could potentially lead to a 24% price increase over the next 12 months .
