EthereumETF
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Ethereum ETF Demand On the Rise Again, Will ETH Hit $4,000 Soon?
Spot Ethereum ETFs have seen a notable uptick in inflows, hitting $155 million this week as ETH price shoots past $3000 with 18% gaisn.
Spot Ethereum ETFs See Renewed Interest
Along with Bitcoin hitting all-time highs above $77,000, the world’s largest altcoin, Ethereum (ETH) is also gaining strong traction. As a result, the spot Ethereum ETF inflows have ticked up once again hitting the weekly high of $85.9 million on Friday, November 8. As a result, the weekly inflows shot up to $155 million with consecutive inflows following the Donald Trump victory.
Yesterday, the BlackRock Ethereum ETF (ETHA) saw the most inflows at $59.8 million, followed by Fidelity’s FETH at $18.4 million. Along with ETHA, FETH has seen consistent and healthy inflows this week. With the latest development, the total inflows into BlackRock Ether ETF have hit the milestone of $1.4 Billion, per the data from Farside Investors.
However, this still pales in comparison to the inflow that spot Bitcoin ETFs are seeing these days in the US. Nevertheless, this is a healthy development as the inflows could rise further with the pick-up in the altseason.
Also, investors are closely monitoring the developments in the Ethereum (ETH) price. Over the last week, ETH has outperformed BTC with 18% gains BTC’s 9.9% gains. There’s also a healthy uptick in the ETH/BTC pair which has been heading lower in the past three years.
In another development, the U.S. Securities and Exchange Commission (SEC) has delayed its decision for the options trading of spot Ethereum ETFs.
ETH Price to Rally to $4,000
As the inflows into spot Ethereum ETFs turn healthy, investors are optimistic that it will further reflect in the ETH price moving ahead. As of press time, the Ethereum price is trading 4.86% up shooting past the critical resistance of $3,000. This is a crucial breakout as ETH flips the 200-day moving average (DMA) thereby flipping the sentiment from bearish to bullish.
If the bulls manage to hold these levels confidently, it can lead to a further rally to $4,000. Additionally, this Ethereum breakout comes following a 90-day accumulation showing a strong uptrend. Some analysts believe that this could beginning of the mega bull run to $15,000.
Disclaimation: Recommendations, suggestions, views given by the crypto experts. It’s not financial advice. You must do your own research before investing crypto markets. Crypto Wolf is always trying to share valuable news for trading, staking, investing after our own research. Information source trading view, x and online media.
#EthereumETF #etherreum #NovemberMarketAnalysis #CryptoNewss #CryptoNews
Spot Ethereum ETFs See Renewed Interest
Along with Bitcoin hitting all-time highs above $77,000, the world’s largest altcoin, Ethereum (ETH) is also gaining strong traction. As a result, the spot Ethereum ETF inflows have ticked up once again hitting the weekly high of $85.9 million on Friday, November 8. As a result, the weekly inflows shot up to $155 million with consecutive inflows following the Donald Trump victory.
Yesterday, the BlackRock Ethereum ETF (ETHA) saw the most inflows at $59.8 million, followed by Fidelity’s FETH at $18.4 million. Along with ETHA, FETH has seen consistent and healthy inflows this week. With the latest development, the total inflows into BlackRock Ether ETF have hit the milestone of $1.4 Billion, per the data from Farside Investors.
However, this still pales in comparison to the inflow that spot Bitcoin ETFs are seeing these days in the US. Nevertheless, this is a healthy development as the inflows could rise further with the pick-up in the altseason.
Also, investors are closely monitoring the developments in the Ethereum (ETH) price. Over the last week, ETH has outperformed BTC with 18% gains BTC’s 9.9% gains. There’s also a healthy uptick in the ETH/BTC pair which has been heading lower in the past three years.
In another development, the U.S. Securities and Exchange Commission (SEC) has delayed its decision for the options trading of spot Ethereum ETFs.
ETH Price to Rally to $4,000
As the inflows into spot Ethereum ETFs turn healthy, investors are optimistic that it will further reflect in the ETH price moving ahead. As of press time, the Ethereum price is trading 4.86% up shooting past the critical resistance of $3,000. This is a crucial breakout as ETH flips the 200-day moving average (DMA) thereby flipping the sentiment from bearish to bullish.
If the bulls manage to hold these levels confidently, it can lead to a further rally to $4,000. Additionally, this Ethereum breakout comes following a 90-day accumulation showing a strong uptrend. Some analysts believe that this could beginning of the mega bull run to $15,000.
Disclaimation: Recommendations, suggestions, views given by the crypto experts. It’s not financial advice. You must do your own research before investing crypto markets. Crypto Wolf is always trying to share valuable news for trading, staking, investing after our own research. Information source trading view, x and online media.
#EthereumETF #etherreum #NovemberMarketAnalysis #CryptoNewss #CryptoNews
JUST IN: Grayscale plans a reverse split for its #Bitcoin and #Ethereum Mini Trust ETFs. 🚀 This move aims to improve liquidity and increase accessibility for investors. Stay tuned for more updates! #CryptoNews #BitcoinETF #EthereumETF #Write2Earn
🌍 Big Regulatory Moves in Crypto 🌍
🚀 Bybit is expanding in Georgia after obtaining a Virtual Asset Service Provider (VASP) license! This license gives Bybit a regulatory edge, enabling it to strengthen compliance while extending services in the region. This step also highlights the growing importance of regulatory frameworks for crypto exchanges worldwide.
🏛️ Meanwhile, the Michigan State Pension Fund is diving deeper into crypto by making a $10 million investment in Grayscale’s Ethereum ETF. This landmark decision underscores rising institutional interest in digital assets, potentially paving the way for broader adoption as more funds and institutions follow suit.
🔗 What’s next? Will these regulatory advancements drive more adoption?
💬 Share your thoughts in the comments!
#CryptoNews #EthereumETF #InstitutionalAdoption #CryptoRegulations
$ETH
🚀 Bybit is expanding in Georgia after obtaining a Virtual Asset Service Provider (VASP) license! This license gives Bybit a regulatory edge, enabling it to strengthen compliance while extending services in the region. This step also highlights the growing importance of regulatory frameworks for crypto exchanges worldwide.
🏛️ Meanwhile, the Michigan State Pension Fund is diving deeper into crypto by making a $10 million investment in Grayscale’s Ethereum ETF. This landmark decision underscores rising institutional interest in digital assets, potentially paving the way for broader adoption as more funds and institutions follow suit.
🔗 What’s next? Will these regulatory advancements drive more adoption?
💬 Share your thoughts in the comments!
#CryptoNews #EthereumETF #InstitutionalAdoption #CryptoRegulations
$ETH
Bearish Market Dominates Global Crypto as Ethereum Reaches Key Levels
Whale Transfers of ETH Signal Potential Sell-Offs
Large transfers of ETH by major holders could be an early indication of possible sell-offs and repositioning.
RSI Shows Bearish Sentiment with Possible Decline
Ethereum’s Relative Strength Index (#RSI ) is currently at 47.33, indicating a bearish sentiment and potential for further decline. The global crypto market cap stands at $2.28 trillion, reflecting a 5.96% drop over the last 24 hours. This decline may be partly linked to developments in the U.S. election outlook, where Trump’s victory odds have dropped to 2.8%. This shift in election sentiment could impact market confidence, adding pressure on major cryptocurrencies, including #etherreum eum.
Ethereum Trades Around $2,511.96
Ethereum has fallen 5% over the past 24 hours and is trading at $2,511.96. ETH’s market cap is $302.46 billion, making up roughly 13.3% of the global crypto market. ETH trading volume has decreased by 3.9% over the past day to $21.04 billion, reflecting investor caution amid rising market uncertainty.
Increased Interest in Ethereum ETFs
This week, #EthereumETF inflows rose significantly to $13.65 million, the highest in the past seven days. In contrast, #bitcoin☀️ ETFs saw minimal inflows during the same period. Institutional investors are showing a preference for ETH exposure, likely due to Ethereum’s unique role in decentralized finance and smart contracts. These strong inflows indicate long-term confidence in Ethereum despite short-term market pressures.
Whale Activity and Technical Levels for Ethereum
Whale activity has recently impacted the ETH market. A large transfer of 13,162 ETH (about $33.1 million) was moved from an unknown wallet to Coinbase, potentially signaling a future sell-off. Another 20,000 ETH (approximately $50.4 million) was moved from Bitfinex to an unknown wallet, suggesting strategic relocations among major holders. Such movements often precede price shifts, as large transfers can affect liquidity and supply on the market.
Key Support and Resistance Levels for ETH
Technically, Ethereum’s immediate support is at $2,514, while the resistance stands at $2,576.94. Breaking above this resistance could push #ETH🔥🔥🔥🔥 toward $2,600, while a decline below support might lead to further drops to around $2,467. RSI at 47.33 shows a prevailing selling pressure.
Bearish Moving Average Crossover Signals Downside Risk
The 9-day moving average (MA) at $2,540.54 has fallen below the 21-day MA at $2,576.94, indicating a bearish crossover. This trend suggests continued downside risk, as Ethereum may struggle to break resistance without renewed buying momentum.
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Large transfers of ETH by major holders could be an early indication of possible sell-offs and repositioning.
RSI Shows Bearish Sentiment with Possible Decline
Ethereum’s Relative Strength Index (#RSI ) is currently at 47.33, indicating a bearish sentiment and potential for further decline. The global crypto market cap stands at $2.28 trillion, reflecting a 5.96% drop over the last 24 hours. This decline may be partly linked to developments in the U.S. election outlook, where Trump’s victory odds have dropped to 2.8%. This shift in election sentiment could impact market confidence, adding pressure on major cryptocurrencies, including #etherreum eum.
Ethereum Trades Around $2,511.96
Ethereum has fallen 5% over the past 24 hours and is trading at $2,511.96. ETH’s market cap is $302.46 billion, making up roughly 13.3% of the global crypto market. ETH trading volume has decreased by 3.9% over the past day to $21.04 billion, reflecting investor caution amid rising market uncertainty.
Increased Interest in Ethereum ETFs
This week, #EthereumETF inflows rose significantly to $13.65 million, the highest in the past seven days. In contrast, #bitcoin☀️ ETFs saw minimal inflows during the same period. Institutional investors are showing a preference for ETH exposure, likely due to Ethereum’s unique role in decentralized finance and smart contracts. These strong inflows indicate long-term confidence in Ethereum despite short-term market pressures.
Whale Activity and Technical Levels for Ethereum
Whale activity has recently impacted the ETH market. A large transfer of 13,162 ETH (about $33.1 million) was moved from an unknown wallet to Coinbase, potentially signaling a future sell-off. Another 20,000 ETH (approximately $50.4 million) was moved from Bitfinex to an unknown wallet, suggesting strategic relocations among major holders. Such movements often precede price shifts, as large transfers can affect liquidity and supply on the market.
Key Support and Resistance Levels for ETH
Technically, Ethereum’s immediate support is at $2,514, while the resistance stands at $2,576.94. Breaking above this resistance could push #ETH🔥🔥🔥🔥 toward $2,600, while a decline below support might lead to further drops to around $2,467. RSI at 47.33 shows a prevailing selling pressure.
Bearish Moving Average Crossover Signals Downside Risk
The 9-day moving average (MA) at $2,540.54 has fallen below the 21-day MA at $2,576.94, indicating a bearish crossover. This trend suggests continued downside risk, as Ethereum may struggle to break resistance without renewed buying momentum.
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
📊 On Oct 31, #Bitcoin spot ETF saw a net inflow of $32.14M, marking its lowest inflow in the past 7 days.
Meanwhile, #Ethereum spot ETF recorded a net inflow of $13.06M.
$BTC $ETH #BitcoinETF #EthereumETF #inflows
Meanwhile, #Ethereum spot ETF recorded a net inflow of $13.06M.
$BTC $ETH #BitcoinETF #EthereumETF #inflows
ETH
$ETH
Hold on, don't sell. It's time to buy💎🟢
They liquidated a billion-dollar long position yesterday. The direction is upward, and there is no reason for it to fall. It's just manipulation. Believe in the cycle and the main trend.
#Ethereum #EthereumETF
$ETH
Hold on, don't sell. It's time to buy💎🟢
They liquidated a billion-dollar long position yesterday. The direction is upward, and there is no reason for it to fall. It's just manipulation. Believe in the cycle and the main trend.
#Ethereum #EthereumETF
According to Lookonchain, a whale has strategically amplified their Ethereum ($ETH ) holdings by engaging in circular lending on Spark Protocol. Initiating their moves on February 1, this investor extracted a total of 39,900 #ETH from major exchanges including Binance, Bybit, OKX, and Bitfinex, with an acquisition cost averaging $2,492 per #ETH Further leveraging their position, they have also secured 56.8 million DAI through borrowing from Spark, showcasing a significant and calculated bet on the future of Ethereum
#Write2Earn #EthereumETF #TrendingTopic
#Write2Earn #EthereumETF #TrendingTopic
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LOOKING BACK TO CHART #ETH/BTC - BREAKING DOOR FOR $ETH IN 2024?
There is a very high possibility that #EthereumETF spot will be approved in May (May 23), there is no "fundamental reason" to treat Bitcoin and Ethereum differently.
BTC and ETH are both listed on CME, ETH is not among the 67 coins that #SEC says are securities.
The properties of BTC and ETH are different, the culture of BTC and ETH holders is also different: BTC is for hoarding and shelter, and ETH is for investment. The risk of being sold like Grayscale for ETH is also very low.
In general, ETH is not currently receiving enough attention, so the x2 window still has potential if the ETF is approved. And with the tide rising, LSDFi, trend Restaking, L2... will also benefit greatly from this.
There is a very high possibility that #EthereumETF spot will be approved in May (May 23), there is no "fundamental reason" to treat Bitcoin and Ethereum differently.
BTC and ETH are both listed on CME, ETH is not among the 67 coins that #SEC says are securities.
The properties of BTC and ETH are different, the culture of BTC and ETH holders is also different: BTC is for hoarding and shelter, and ETH is for investment. The risk of being sold like Grayscale for ETH is also very low.
In general, ETH is not currently receiving enough attention, so the x2 window still has potential if the ETF is approved. And with the tide rising, LSDFi, trend Restaking, L2... will also benefit greatly from this.
#SEC radio silence on #EthereumETF ‘not a good sign’ — Bloomberg analyst
Senior analyst Eric Balchunas from Bloomberg has expressed growing doubts about the likelihood of the Securities and Exchange Commission (SEC) approving an Exchange-Traded Fund (ETF) for Ethereum ($ETH ). As the SEC continues its silence on the matter, potential ETF issuers are left in the dark, leading to speculation of setbacks for those anticipating approvals by May.
In a recent conversation with Cointelegraph, Balchunas voiced concerns over the lack of engagement from the SEC with issuers. He has downgraded the probability of Ether ETF approval to 35%, highlighting the importance of feedback from the SEC and the subsequent adjustments made by issuers. Balchunas noted that this process of refinement and potential re-filings could be prolonged.
Balchunas suggested that the SEC's intentional silence might be a deliberate move, possibly influenced by SEC Chair Gary Gensler's perception of Ether as a security. Gensler's stance on approving ETFs could be shaped by this view, drawing parallels to past regulatory decisions and his previous engagements with Bitcoin ETFs.
Referring to the approval of ETH futures ETFs in October and the subsequent lack of discussion on spot products, Balchunas highlighted this anomaly, indicating the need for scrutiny.
However, there are contrasting views within the industry. Nate Geraci, president of ETF Store, questioned the SEC's inconsistency in approving ETH futures but not spot products, while Matt Corva, general counsel at Consensys, suggested that a denial could provide clarity in the long term by removing regulatory uncertainty.
Balchunas and industry experts cautiously optimistic about ETF approvals, citing correlation analysis and regulatory changes as key factors. Despite uncertainties, Balchunas remains confident in spot Ether ETF approval, emphasizing timing over certainty.
Source - cointelegraph.com
#CryptoNews🔒📰🚫 #BinanceSquareTalks #cryptocurrency
Senior analyst Eric Balchunas from Bloomberg has expressed growing doubts about the likelihood of the Securities and Exchange Commission (SEC) approving an Exchange-Traded Fund (ETF) for Ethereum ($ETH ). As the SEC continues its silence on the matter, potential ETF issuers are left in the dark, leading to speculation of setbacks for those anticipating approvals by May.
In a recent conversation with Cointelegraph, Balchunas voiced concerns over the lack of engagement from the SEC with issuers. He has downgraded the probability of Ether ETF approval to 35%, highlighting the importance of feedback from the SEC and the subsequent adjustments made by issuers. Balchunas noted that this process of refinement and potential re-filings could be prolonged.
Balchunas suggested that the SEC's intentional silence might be a deliberate move, possibly influenced by SEC Chair Gary Gensler's perception of Ether as a security. Gensler's stance on approving ETFs could be shaped by this view, drawing parallels to past regulatory decisions and his previous engagements with Bitcoin ETFs.
Referring to the approval of ETH futures ETFs in October and the subsequent lack of discussion on spot products, Balchunas highlighted this anomaly, indicating the need for scrutiny.
However, there are contrasting views within the industry. Nate Geraci, president of ETF Store, questioned the SEC's inconsistency in approving ETH futures but not spot products, while Matt Corva, general counsel at Consensys, suggested that a denial could provide clarity in the long term by removing regulatory uncertainty.
Balchunas and industry experts cautiously optimistic about ETF approvals, citing correlation analysis and regulatory changes as key factors. Despite uncertainties, Balchunas remains confident in spot Ether ETF approval, emphasizing timing over certainty.
Source - cointelegraph.com
#CryptoNews🔒📰🚫 #BinanceSquareTalks #cryptocurrency
🔮 The fate of the Ethereum ETF hangs in the balance, with approval odds standing at a mere 50/50! 🤞 Crypto enthusiasts eagerly await the decision, knowing that greenlighting an Ethereum ETF could have a monumental impact on the market. 📈 Will regulators embrace this opportunity to expand access to digital assets, or will they err on the side of caution? 🤔 Stay tuned as the crypto community holds its breath for the verdict! ⏳🤝 #EthereumETF #CryptoApproval #FingersCrossed 🍀
Follow | Like ❤️ | Quote 🔄 | Comment🙏
Follow | Like ❤️ | Quote 🔄 | Comment🙏
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#EthereumETF (Exchange Traded Fund) is a new financial instrument designed to provide exposure to Ethereum (ETH) to investors. Similar to other ETFs, the Ethereum ETF is traded on a stock exchange and allows investors to buy and sell shares representing the value of ETH without directly owning the asset.
The birth of the Ethereum ETF brings many significant benefits. First, it provides easy access for traditional investors to participate in the ETH market without needing a deep understanding of cryptocurrency. Besides, Ethereum ETF also brings high liquidity, allowing investors to easily buy and sell on the stock exchange just like trading regular stocks. More importantly, investing in Ethereum ETF helps investors diversify their investment portfolio, thereby minimizing risk by accessing many different asset types.
Currently, there are two main types of Ethereum ETFs being proposed.
- The first is Ethereum ETF Spot, which will track ETH prices directly. - The second is Ethereum ETF Futures, which will track the price of ETH futures contracts.
This difference will affect how the ETF operates and calculates its net asset value.
Now, all eyes are on the US Securities and Exchange Commission (SEC) as they prepare to make a decision on the possibility of approving an Ethereum ETF next May. The approval of this fund promises to become the next important milestone for the cryptocurrency sector, opening the door to potential new investment opportunities.
While Bitcoin's dominance in the cryptocurrency market is undeniable, Ethereum's unique features and growing ecosystem make the platform a viable contender to Bitcoin. any time. From smart contracts to decentralized finance (DeFi) and NFTs, Ethereum's ecosystem continues to drive use cases and activity at unprecedented levels, cementing its position in the future of blockchain technology.
The birth of the Ethereum ETF brings many significant benefits. First, it provides easy access for traditional investors to participate in the ETH market without needing a deep understanding of cryptocurrency. Besides, Ethereum ETF also brings high liquidity, allowing investors to easily buy and sell on the stock exchange just like trading regular stocks. More importantly, investing in Ethereum ETF helps investors diversify their investment portfolio, thereby minimizing risk by accessing many different asset types.
Currently, there are two main types of Ethereum ETFs being proposed.
- The first is Ethereum ETF Spot, which will track ETH prices directly. - The second is Ethereum ETF Futures, which will track the price of ETH futures contracts.
This difference will affect how the ETF operates and calculates its net asset value.
Now, all eyes are on the US Securities and Exchange Commission (SEC) as they prepare to make a decision on the possibility of approving an Ethereum ETF next May. The approval of this fund promises to become the next important milestone for the cryptocurrency sector, opening the door to potential new investment opportunities.
While Bitcoin's dominance in the cryptocurrency market is undeniable, Ethereum's unique features and growing ecosystem make the platform a viable contender to Bitcoin. any time. From smart contracts to decentralized finance (DeFi) and NFTs, Ethereum's ecosystem continues to drive use cases and activity at unprecedented levels, cementing its position in the future of blockchain technology.
Prospects of Ethereum ETF Approval: Impact on Prices.
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#Bitcoin #Altcoin #Cryptocurrency #EthereumETF #ETH
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Grayscale’s Top Lawyer Confident About Ethereum ETF Approval
Grayscale’s legal head highlighted that the issues facing a spot Ethereum ETF are akin to those encountered with Bitcoin ETFs. Consequently, they feel less SEC discussion is required for approval.
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Craig Slam of Grayscale reassured that despite Ethereum’s security classification, their case for an ETF remains robust.
Grayscale’s Chief Legal Officer Advocates for Ethereum ETF Approval
In a recent statement, Craig Salm, Grayscale’s Chief Legal Officer, addressed the ongoing discussions surrounding spot Ethereum ETFs. Salm expressed his belief that ETFs for Ethereum should indeed be approved, despite recent speculation. However, he primarily focused on clarifying the perception of the SEC’s engagement in the matter.
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Salm highlighted the constructive engagement Grayscale and others experienced with the SEC in the months leading up to the approval of Bitcoin ETFs. During this period, detailed discussions covered various aspects such as creation/redemption procedures, custody, and the roles of authorized participants (APs) and liquidity providers (LPs).
He emphasized that the issues pertinent to spot Ethereum ETFs mirror those of spot Bitcoin ETFs, with the only distinction being the asset held i.e. Ether instead of Bitcoin. Therefore, Salm argued that the SEC has already engaged on these matters, suggesting less need for extensive discussions this time around.
Craig Salm, Grayscale’s Chief Legal Officer, acknowledges that his perspective on spot Ethereum ETFs may evolve closer to the final approval or denial dates in late May 2024. He cautions against interpreting the perceived lack of engagement from regulators as indicative of any specific outcome.
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Salm echoes sentiments expressed by other industry figures, including Paul Grewal and Brian Quintenz, regarding the reasons why spot Ethereum ETFs should be approved. These reasons include maintaining consistency with Ethereum futures ETFs, treating Ethereum futures as commodity futures rather than security futures, and the high correlation between futures and spot prices.
Also Read: Potential Reversal Signal for Polygon's MATIC
In conclusion, Salm affirms Grayscale’s support for the approval of spot Ethereum ETFs, asserting that the case for them is as robust as it was for spot Bitcoin ETFs. Grayscale eagerly anticipates further engagement with the Commission on this matter.
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Ethereum Price Rebounds Amidst Surge in Trading Volume
Following a period of heavy selling last week, the price of Ethereum has once again bounced back from its lows of $3,000. As of press time, ETH is trading 4% higher at a price of $3,671, with a market cap of $435 billion. Moreover, the daily trading volume for Ethereum has surged by a staggering 58% to reach $20 billion.
Several factors are contributing to the potential rally in the price of ETH, with analysts suggesting that it could reach a new all-time high of around $5,000.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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#Ethereum #EthereumETF #Grayscale #ETH $$BTC $ETH $SOL
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Craig Slam of Grayscale reassured that despite Ethereum’s security classification, their case for an ETF remains robust.
Grayscale’s Chief Legal Officer Advocates for Ethereum ETF Approval
In a recent statement, Craig Salm, Grayscale’s Chief Legal Officer, addressed the ongoing discussions surrounding spot Ethereum ETFs. Salm expressed his belief that ETFs for Ethereum should indeed be approved, despite recent speculation. However, he primarily focused on clarifying the perception of the SEC’s engagement in the matter.
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Salm highlighted the constructive engagement Grayscale and others experienced with the SEC in the months leading up to the approval of Bitcoin ETFs. During this period, detailed discussions covered various aspects such as creation/redemption procedures, custody, and the roles of authorized participants (APs) and liquidity providers (LPs).
He emphasized that the issues pertinent to spot Ethereum ETFs mirror those of spot Bitcoin ETFs, with the only distinction being the asset held i.e. Ether instead of Bitcoin. Therefore, Salm argued that the SEC has already engaged on these matters, suggesting less need for extensive discussions this time around.
Craig Salm, Grayscale’s Chief Legal Officer, acknowledges that his perspective on spot Ethereum ETFs may evolve closer to the final approval or denial dates in late May 2024. He cautions against interpreting the perceived lack of engagement from regulators as indicative of any specific outcome.
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Salm echoes sentiments expressed by other industry figures, including Paul Grewal and Brian Quintenz, regarding the reasons why spot Ethereum ETFs should be approved. These reasons include maintaining consistency with Ethereum futures ETFs, treating Ethereum futures as commodity futures rather than security futures, and the high correlation between futures and spot prices.
Also Read: Potential Reversal Signal for Polygon's MATIC
In conclusion, Salm affirms Grayscale’s support for the approval of spot Ethereum ETFs, asserting that the case for them is as robust as it was for spot Bitcoin ETFs. Grayscale eagerly anticipates further engagement with the Commission on this matter.
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Ethereum Price Rebounds Amidst Surge in Trading Volume
Following a period of heavy selling last week, the price of Ethereum has once again bounced back from its lows of $3,000. As of press time, ETH is trading 4% higher at a price of $3,671, with a market cap of $435 billion. Moreover, the daily trading volume for Ethereum has surged by a staggering 58% to reach $20 billion.
Several factors are contributing to the potential rally in the price of ETH, with analysts suggesting that it could reach a new all-time high of around $5,000.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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#Ethereum #EthereumETF #Grayscale #ETH $$BTC $ETH $SOL
SEC’s spot Ether ETF concerns unfounded, Consensys asserts
SEC’s spot Ether ETF concerns unfounded, Consensys asserts
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Consensys highlighted that Ethereum boasts a larger developer community than Bitcoin and operates on a fully transparent and public blockchain.
Consensys addressed the United States Securities and Exchange Commission (SEC)’s inquiry about potential fraud and manipulation risks related to Ethereum’s proof-of-stake system, particularly concerning spot Ether exchange-traded funds (ETFs).
In a comment letter submitted to the regulatory agency, Consensys, the blockchain and Web3 software development company responsible for the popular MetaMask wallet, stated that concerns about fraud and manipulation are baseless.
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Consensys highlighted that Ethereum boasts a larger developer community than Bitcoin and operates on a fully transparent and public blockchain.
Consensys addressed the United States Securities and Exchange Commission (SEC)’s inquiry about potential fraud and manipulation risks related to Ethereum’s proof-of-stake system, particularly concerning spot Ether exchange-traded funds (ETFs).
In a comment letter submitted to the regulatory agency, Consensys, the blockchain and Web3 software development company responsible for the popular MetaMask wallet, stated that concerns about fraud and manipulation are baseless.
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#Bitcoin #Ethereum #Crypto #EthereumETF #ETH $ETH
Hong Kong Spot Bitcoin and Ether ETFs Struggle To Gain Traction
Hong Kong’s spot $BTC exchange-traded funds (#ETFs ) have not lived up to expectations in their first week of launch.
Compared to their U.S. equivalents, they’ve significantly underperformed. According to statistics, the asset inflows were less than $14 million in the first week of launch, a stark difference from the billions that flowed into U.S. #BitcoinETF💰💰💰 in January.
A study by crypto exchange OSL found that nearly 80% of crypto-savvy investors in Hong Kong plan to invest in the new Bitcoin and #EthereumETF . However, these assets are not currently accessible to Mainland Chinese investors unless they also hold Hong Kong residency
Hong Kong’s spot $BTC exchange-traded funds (#ETFs ) have not lived up to expectations in their first week of launch.
Compared to their U.S. equivalents, they’ve significantly underperformed. According to statistics, the asset inflows were less than $14 million in the first week of launch, a stark difference from the billions that flowed into U.S. #BitcoinETF💰💰💰 in January.
A study by crypto exchange OSL found that nearly 80% of crypto-savvy investors in Hong Kong plan to invest in the new Bitcoin and #EthereumETF . However, these assets are not currently accessible to Mainland Chinese investors unless they also hold Hong Kong residency
Juan Leon, an analyst at Bitwise, believes that even if an Ethereum (ETH) spot exchange-traded fund (ETF) is approved, it won't have the same impact on the market as a Bitcoin (BTC) spot ETF. Leon suggests that while BTC serves as digital gold, ETH is more comparable to technology stocks. The launch of a BTC spot ETF could absorb significant liquidity, whereas ETH, with a core focus on functionality and scalability, may not create as much synergy with a spot ETF. Traders should be mindful of these distinctions in evaluating the potential impact of spot ETFs on BTC and ETH markets. 📊🤔 #BitcoinETF #EthereumETF #CryptoAnalysis 🚀
Just In: BlackRock CEO Larry Fink expresses interest in having an Ethereum ETF, citing potential value.
#WebGTR #BlackRock’s #EthereumETF #BTC #cpi
#WebGTR #BlackRock’s #EthereumETF #BTC #cpi
🔥🔥🔥 There’s a 50% Chance of #EthereumETF Approval Next Month: #JPMorgan
JP Morgan analysts suggest that the Securities and Exchange Commission's decision on a spot Ethereum exchange-traded fund (ETF) next month is as uncertain as it is likely to be rejected.
Citing the SEC's recent scrutiny of Ethereum-related entities, JP Morgan analysts expressed skepticism about the approval prospects in a note released on Thursday. The report reflects a growing pessimism within the market regarding the potential introduction of this new investment avenue.
The analysts highlighted the SEC's investigation into firms associated with the Ethereum Foundation, a non-profit organization supporting the Ethereum ecosystem, as a discouraging factor for approval. Although the SEC neither confirmed nor denied this investigation to Decrypt, other media outlets corroborated the news.
JP Morgan's report suggested that if an Ethereum ETF fails to gain approval by the upcoming deadline, applicants may resort to legal action against the regulator. The analysts speculated that the SEC might eventually lose such litigation, akin to previous legal battles involving entities like Grayscale and Ripple, leading to the eventual approval of spot Ethereum ETFs, albeit not as soon as anticipated in May.
JP Morgan, once optimistic about Ethereum's classification as a commodity, now doubts the SEC will make such a designation soon. Bloomberg Intelligence's ETF analysts also suggest approval for Ethereum ETFs is unlikely next month. James Butterfill from CoinShares echoes this sentiment, cautioning investors about potential disappointment as the deadline nears.
Major investment firms like #BlackRock , Fidelity, and Grayscale are keen to introduce Ethereum ETFs, providing investors access to the second-largest cryptocurrency without the need for direct ownership. Unlike Bitcoin ETFs, which the SEC approved in January with successful trading debuts, the future of Ethereum ETFs remains uncertain.
Source - decrypt.co
#CryptoNews🔒📰🚫 #BinanceSquareTalks $ETH
JP Morgan analysts suggest that the Securities and Exchange Commission's decision on a spot Ethereum exchange-traded fund (ETF) next month is as uncertain as it is likely to be rejected.
Citing the SEC's recent scrutiny of Ethereum-related entities, JP Morgan analysts expressed skepticism about the approval prospects in a note released on Thursday. The report reflects a growing pessimism within the market regarding the potential introduction of this new investment avenue.
The analysts highlighted the SEC's investigation into firms associated with the Ethereum Foundation, a non-profit organization supporting the Ethereum ecosystem, as a discouraging factor for approval. Although the SEC neither confirmed nor denied this investigation to Decrypt, other media outlets corroborated the news.
JP Morgan's report suggested that if an Ethereum ETF fails to gain approval by the upcoming deadline, applicants may resort to legal action against the regulator. The analysts speculated that the SEC might eventually lose such litigation, akin to previous legal battles involving entities like Grayscale and Ripple, leading to the eventual approval of spot Ethereum ETFs, albeit not as soon as anticipated in May.
JP Morgan, once optimistic about Ethereum's classification as a commodity, now doubts the SEC will make such a designation soon. Bloomberg Intelligence's ETF analysts also suggest approval for Ethereum ETFs is unlikely next month. James Butterfill from CoinShares echoes this sentiment, cautioning investors about potential disappointment as the deadline nears.
Major investment firms like #BlackRock , Fidelity, and Grayscale are keen to introduce Ethereum ETFs, providing investors access to the second-largest cryptocurrency without the need for direct ownership. Unlike Bitcoin ETFs, which the SEC approved in January with successful trading debuts, the future of Ethereum ETFs remains uncertain.
Source - decrypt.co
#CryptoNews🔒📰🚫 #BinanceSquareTalks $ETH
Ethereum ETF Application Submitted by Bitwise
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Bitwise has submitted a spot Ethereum ETF application
Bitwise, one of the top cryptocurrency asset managers, has filed an S-1 form with the U.S. Securities and Exchange Commission in order to launch a spot-based Ethereum ETF.
If approved, the Bitwise Ethereum ETF will be listed on the NYSE Arca. The proposed product intends to provide direct exposure to the value of the largest altcoin held by the Trust with Coinbase Custody.
#Bitcoin #Altcoin #Ethereum #EthereumETF #ETH $ETH
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Bitwise has submitted a spot Ethereum ETF application
Bitwise, one of the top cryptocurrency asset managers, has filed an S-1 form with the U.S. Securities and Exchange Commission in order to launch a spot-based Ethereum ETF.
If approved, the Bitwise Ethereum ETF will be listed on the NYSE Arca. The proposed product intends to provide direct exposure to the value of the largest altcoin held by the Trust with Coinbase Custody.
#Bitcoin #Altcoin #Ethereum #EthereumETF #ETH $ETH
