Ethereum

Bitcoin

Big financial players, Fidelity and BlackRock, are in a quick race to start investment funds focused on Ethereum. Fidelity justapplied for approval, and BlackRock <a href="https://news.todayq.com/blackrock-lays-its-eyes-on-ethereum-etf/" rel="noopener noreferrer nofollow">revealed plans</a> for its own fund a day earlier. These moves show that major money managers believe in the future of cryptocurrencies. 
According to the Registration Statement, each Share will represent a fractional undivided beneficial interest in the Trust’s net assets. The Trust’s assets will consist of ETH held by the Custodian on behalf of the Trust
Fidelity <a href="https://news.todayq.com/boston-based-fidelity-remains-bullish-on-bitcoin/" rel="noopener noreferrer nofollow">manages</a> a colossal $4.5 trillion, while BlackRock is even bigger with over $8 trillion in assets. Both want to tap into the growing interest in Ethereum, a type of cryptocurrency. Was Ethereum’s price affected? 
The <a href="https://news.todayq.com/ethereum-extends-lead-while-solana-slumps/" rel="noopener noreferrer nofollow">price of Ethereum</a> didn’t jump much after Fidelity’s news. It’s currently hovering around $1,953, down 4% this week. Despite this, Ether has gone up by a solid 28% from its lowest point in October.
Experts think Ether’s recent slowdown is because people are cashing in <a href="https://news.todayq.com/analysis-75-eth-holders-in-profit-after-crossing-2000-mark/" rel="noopener noreferrer nofollow">profits</a>. Even though it’s not rising as fast as Bitcoin, which went up by 45%, some believe Ether could still go higher.
The broader market’s positive mood, driven by hopes for new Bitcoin investment funds and better economic conditions, is helping Ether. The recent buzz about big companies planning Ethereum funds is also a boost.
However, Ether’s <a href="https://news.todayq.com/ethereums-highly-anticipated-dencun-upgrade-faces-possible-launch-delay/" rel="noopener noreferrer nofollow">success</a> might depend on breaking a key level around $2,150. If it does, experts say it could shoot up to $3,600 quickly.
Investors are keeping an eye on how things unfold, especially with the potential for the US government’s interest rates affecting Ether’s appeal. If those rates drop below what people earn from holding Ether, it could attract more investors.
© Todayq News

Fidelity enters the race for Ethereum ETF

Todayq News

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