#Grayscale Spot $ETH ETF received approval from NYSE Arca. It is a very important development for the cryptocurrency market. This means that common units of Grayscale's #Ethereum Trust will be listed on the exchange and their registration will be accepted.

Such approval will contribute to greater acceptance of Ethereum by institutional investors and therefore increase its market value.

In addition, it can be said that other projects such as Chainlink can also indirectly benefit from these developments. Since DeFi and other blockchain projects are built on Ethereum infrastructure, the appreciation of Ethereum may contribute to the appreciation of these projects as well.