But what happens next? Here are 3 things you need to know about this game-changing development:
1/ Hold Your Bags - Trading won't kick off right away! While the SEC has approved the 19b-4 filing, there's still an S-1 process to go through. According to Bloomberg's sharp analyst James Seyfartt, we might have to wait a few weeks or more before the trading starts.
2/ Spot #Bitcoin vs #Ethereum ETFs - Why did Bitcoin start trading immediately after approval, but Ethereum needs some time? It's all about the SEC's process. With Bitcoin, the S-1 filing was already in place before approval, allowing for a swift launch. However, Ethereum's approval process only began recently, causing a slight delay.
3/ Buckle Up for a Wild Ride - Brace yourself for some volatility with the Spot #Ethereum ETF! Galaxy Digital forecasts a listing on exchanges in July or August. The intricate DApps ecosystem on Ethereum could extend the approval timeline, making this ETF riskier than its Bitcoin counterpart.
The complexity of DApps might be the reason behind the lengthy S-1 process. 🌟Get ready for an exciting journey with the Spot #Ethereum ETF - the future is bright, but it might take a little longer to arrive! 🌈💰