Ethereum

Spot

<p>The post <a href="https://coinpedia.org/news/big-win-for-ethereum-as-the-sec-approved-spot-ethereum-etfs/">Big Win For Ethereum As The SEC Approved All Spot Ethereum ETFs</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In a landmark decision on May 24, 2024, the U.S. Securities and Exchange Commission (SEC) has approved all Spot Ethereum Exchange-Traded Funds (ETFs), marking a pivotal moment in the cryptocurrency market. This approval ends a prolonged period of anticipation and debate, signaling a new era for Ethereum and the broader crypto industry.</p> 
<p>The approval of all Spot Ethereum ETFs is more than just a regulatory milestone; it represents a significant endorsement of Ethereum’s legitimacy and potential as a mainstream investment vehicle.</p> 
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   <p lang="en" dir="ltr">BREAKING: The SEC has officially approved Ethereum ETFs. <a href="https://twitter.com/hashtag/ETH?src=hash&amp;ref_src=twsrc%5Etfw">#ETH</a> <a href="https://t.co/tVYTxJy23C">pic.twitter.com/tVYTxJy23C</a></p>— The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1793751353451274345?ref_src=twsrc%5Etfw">May 23, 2024</a>
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<p>Meanwhile, the decision came just five months after the agency approved Spot Bitcoin ETFs on 11 Jan 2024. This marks the approval of the country’s second crypto-based ETF and represents a significant shift in the accessibility of the second-largest cryptocurrency to institutional investors.</p> 
<h2 class="wp-block-heading" id="sec-approved-spot-ethereum-etfs">SEC Approved Spot Ethereum ETFs</h2> 
<p>As the SEC has approved all eight spot Ethereum ETF applications filed by VanEck, Fidelity, Grayscale, Bitwise, Hashdex, ARK Invest &amp; 21Shares, Invesco &amp; Galaxy, and BlackRock. After a thorough review, the SEC concluded that these proposals are consistent with the rules and regulations of the Exchange Act and the securities exchange.</p> 
<p>In a recent tweet, crypto analyst James Seyffart clarified that the SEC’s approval doesn’t mean the ETFs will begin trading immediately. He emphasized that this is just the approval of the 19b-4 filings.&nbsp;</p> 
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   <p lang="en" dir="ltr">TO BE CLEAR: This does not mean they will begin trading tomorrow. This is just 19b-4 approval. Also needs to be an approval on the S-1 documents which is going to take time. We’re expecting it to take a couple weeks but could take longer. Should know more within a week or so!</p>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1793752733763445043?ref_src=twsrc%5Etfw">May 23, 2024</a>
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<p>The S-1 documents also need approval, which will take additional time. Seyffart anticipates this process could take a couple of weeks but might extend longer. He expects more information to become available within a week or so.</p> 
<h2 class="wp-block-heading" id="h-ethereum-price-surge">Ethereum Price Surge</h2> 
<p>Following the SEC’s approval, Ethereum’s price experienced a significant surge, <a href="https://markets.coinpedia.org/ethereum/">currently trading at $3,878</a>. This sharp recovery came after a news of sec approval of Spot Ethereum ETF.</p> 
<p>Ethereum’s technical indicators show a balanced market, with long and short liquidations nearly equal at $31.22 million and $31.21 million, respectively. This balance suggests that the market is poised for potential stability or upward movement in the wake of the ETF approval.</p> 
<p>The approval has injected fresh optimism into the market, encouraging investors and potentially paving the way for further price appreciation.</p>

Big Win For Ethereum As The SEC Approved All Spot Ethereum ETFs

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