With all spot ether ETF approvals coming through from the US Securities and Exchange Commission, the ETFs will finally start trading from July 23.
The US Securities and Exchange Commission (SEC) has finally accorded its approval for the spot ether ETFs. The spot ether ETF approvals came after a week of intense speculation regarding its green signal. With the passage of the regulator’s stamp, the crypto ETFs will finally start trading on July 23. Prominent asset management names like BlackRock, Fidelity, Grayscale, and others will back the crypto ETFs.
Besides, the SEC had initiated the approvals for the ETFs almost two months back. The latest order finalizes all formalities for the ETFs to start trading on public exchanges in the US.
The official approval from the SEC paves the way for the ETFs to have a significant impact on Ethereum. In the last few months, the crypto market has been going through uncertainty regarding their dates of launch. With the recent development, a possible upward trajectory for ether’s price has become possible. It is presently trading just above $3,500.
Meanwhile, Kaiko, the crypto data analytics platform, has released a report on the ETFs. It claimed that the price of ether would depend on the inflows from the new ETFs.
Further, Will Cai from the firm stated, “Although a full demand picture may not emerge for several months, ETH price could be sensitive to inflow numbers of the first days.”
Spot ETFs allow investors to incorporate crypto into their existing portfolios, fostering diversification. These new financial instruments offer a convenient and regulated way for investors to gain exposure to Ethereum, the world’s second-largest crypto by market cap, without the complexities associated with directly owning the digital asset.
This development not only benefits Ethereum but also paves the way for broader adoption of spot crypto ETFs across the crypto landscape.
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