Good news keeps coming! Ethereum ETF is about to be approved, is the cryptocurrency market about to have a carnival?
In the past year, the approval of Bitcoin ETF has undoubtedly injected a shot in the arm for the cryptocurrency market, and also attracted the market's attention to the approval process of Ethereum ETF. Now, the much-anticipated Ethereum ETF has finally received a big news - it is about to receive final approval from the regulators!
According to people familiar with the matter, the institution that submitted the spot Ethereum ETF application recently submitted an updated S-1 document, which is expected to obtain final approval from the U.S. Securities and Exchange Commission (SEC) next week, which means that the trading of spot Ethereum ETF is about to start. This news is like a catalyst that has boosted the cryptocurrency market.
Industry analysts are generally optimistic about the prospects of Ethereum ETF. They predict that with the listing of Ethereum ETF, a large amount of funds will flow into the Ethereum market, thereby pushing up the price of Ethereum. Cryptocurrency analyst Mark Dunleavy pointed out that compared with Bitcoin, Ethereum has a smaller circulating supply, which will bring stronger price increase momentum under potential ETF demand.
The approval of Ethereum ETF marks a further expansion of investment channels for cryptocurrency assets. Since the launch of the Bitcoin futures ETF in January this year, cryptocurrency funds are gradually entering the mainstream market. Currently, the scale of Bitcoin ETFs has exceeded $50 billion, reflecting investors' strong interest in cryptocurrency assets. Dunleavy boldly predicts that the Ethereum ETF may also see an astonishing inflow of $10 billion within a few months of its launch.
Not only that, in addition to the upcoming Ethereum ETF, several institutions in the market have submitted applications for the spot Solana ETF.
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