Coin Gabbar Token

<h2 id="header-0">BTC Holders Beware: ETH ETF Changes the Game!</h2>The <a href="https://www.coingabbar.com/en/crypto-currency-news/argentinas-shocking-election-result-could-reshape-digital-wealth" rel="noopener noreferrer nofollow">US cryptocurrency landscape</a> is gearing up for another seminal moment. Volatility Shares, a major player in the ETF realm, has declared its plan to roll out the Ether Strategy ETF (ETHU) come October 12, 2023. If everything aligns, this may mark the debut of the first ether-based ETF in the United States.This move by Volatility Shares revolves around the cash-settled Ethereum futures contracts listed on the CBOE. The Fund has explicitly chosen to steer clear of direct Ether investments. As cited from the SEC document, &#34;The Fund does not invest directly in ether.”Stuart Barton, Volatility Shares CIO, conveyed his bullish outlook. Reflecting on the success of their first 2x bitcoin-linked ETF (BITX) in July, he remarked that he anticipates a similar sentiment for ETHU, hinting that a dive into the spot market could be their subsequent step.Bloomberg&#39;s senior ETF analyst, Eric Balchunas, seemed slightly audacious regarding the aggressive timeline Volatility Shares is aiming for. He noted the similarities between this launch and the previous BITX, saying, “He’s probably pushing the envelope like he did with BitX.”However, the green light from the SEC is still pending, despite 13 leading financial entities, including the likes of Bitwise, VanEck, Wakiri, RobHill, ProShares, and Grayscale, all jostling for their Ethereum Futures ETFs&#39; approval.Drawing parallels from the past, the inaugural <a href="https://www.coingabbar.com/en/crypto-currency-news/vitalik-bitcoins-brc-20-may-overtake-ethereum" rel="noopener noreferrer nofollow">bitcoin futures ETF</a> in the US was launched almost around the same time in October 2021. ProShare had the advantage of the first-mover effect and subsequently saw significant contributions to their Bitcoin Futures ETF. Will Ether follow suit? The BTC bull run of 2021 gives us some clues. Bitcoin surged by 60% in the lead-up to its futures ETF&#39;s introduction. Although a correction followed, it was temporary before surging again to new highs.There&#39;s palpable anticipation around how ETH&#39;s price will react to this launch. The current landscape is markedly different from 2021. BTC was in a bull cycle then, whereas the crypto space now is in somewhat of a lull. Yet, it’s undeniable that the Ethereum Futures ETF could be the spark ETH needs. Currently, ETH is hovering around $1,826, just over the critical 38.2% Fibonacci retracement level.The crypto arena is no stranger to significant shifts, and the Ethereum Futures ETF promises to be another pivotal moment. Given Bitcoin&#39;s response in 2021, one could assume a similar rally for ETH. However, the existing market stagnation does provide some hesitation. Investors torn between Bitcoin and Ethereum ETFs might lean towards the latter for its novelty and potential first-mover returns. Still, with uncertainty a constant companion in the crypto world, only time will truly reveal which ETF becomes the investors&#39; darling.

Ethereum ETF launch: Is Your Bitcoin ETF Profit at Risk?

Table of Contents

Coingabbar

Other articles published on Aug 17, 2023

Tether withdrew more than $ 4.8 billion from banks

FBI Seizes $1.7M in Crypto Assets, Warns Against NFT Scams

Revolutionary AI Conversational Assistant Unveiled: Introducing OpenAI’s Official ChatGPT Android...

ASTS Stock Lost More Than 12% Weekly; Any Support Left?

BlockFi Extends Crypto Withdrawals for Eligible US Users Post-Court Ruling!

2024 could be very bullish for crypto — Here’s why

Join our free newsletter for daily crypto updates!