The positive sentiment towards bitcoin ETFs extends to Ethereum counterparts. The U.S. Securities and Exchange Commission (SEC) recently requested the correction and re-publication of spot ETFs on Ethereum.
The move, which is often seen as a precursor to approval, has caused a stir in the cryptocurrency community. Cboe BZX has applied to amend five #EarnFreeCrypto2024 exchange-traded index funds, and Nasdaq has applied to amend BlackRock's offering.
The potential approval of spot ETFs for Ether could further spur the digital asset market. As the world's second largest cryptocurrency by market capitalization, Ethereum boasts a vibrant ecosystem of decentralized applications (dApps) and smart contracts. Investor interest in this rapidly growing space is undeniable.
This growth has coincided with the recent passage of the Financial Innovation and Technology for the 21st Century Act (FIT21) by the U. S. House of Representatives. The Act aims to create a long-awaited legal framework for the digital asset industry and give the Commodity Futures Trading Commission (CFTC) greater authority to oversee cryptoassets as 'digital commodities'.
The #FIT21 Act is an important step toward regulating cryptocurrencies, but it is not without its critics. The lack of robust consumer protections in the current version of the bill is troubling. Nevertheless, the passage of the bill shows that lawmakers are willing to embrace the future of finance, and further clarification is expected to address consumer safety issues.
BlackRock's iShares #EarnFreeCrypto2024 Trust (IBIT) has led the way in this gold rush, attracting a staggering ¥9,200 million in inflows. This move by the world's largest asset management company confirms that bitcoin is a legitimate asset class, and will likely encourage other institutional investors to follow suit. Another major player is Fidelity #Digital Assets Wise Origin's bitcoin-ETF fund Fidelity Digital Assets, which raised £1 million to further strengthen the trend. 7500
In addition, total trading volume has surpassed $ 26.
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