Ethereum

James

Green Light

Asset manager Volatility Shares <a href="https://www.volatilityshares.com/ethu" rel="noopener noreferrer nofollow">said it will launch</a> the first leveraged Ethereum ETF (exchange-traded fund) in the US on June 4.
The launch of Volatility Shares 2x Ether ETF (ETHU)&nbsp;follows the June 2023 launch of the Volatility Shares 2x Bitcoin fund. It also comes after the US Securities and Exchange Commission (SEC) approved several <a href="https://insidebitcoins.com/news/ethereum-etf-approvals-mean-eth-and-many-other-cryptos-just-became-commodities-analysts-say" rel="noopener noreferrer nofollow">ETH ETF</a> applications last week.
<img decoding="async" src="https://images.ctfassets.net/gjyjx7gst9lo/209DWpSf0QCm0NB5rjaBmb/0c701f294b131d4a97dd6dcd7c218b61/Ethereum-ETFs-The-growth-catalyst-16x9.jpg?q=75&amp;w=1920" alt="Ethereum ETFs: The Next Step in DeFi Adoption? | Consensys">
<h2 id="span-style-font-weight-400-spot-eth-etf-issuers-still-waiting-for-the-green-light-to-launch-span">Spot ETH ETF Issuers Still Waiting For The Green Light To Launch</h2>
Volatility Shares Chief Investment Officer Stuart Barton believes the approval of the leveraged investment product might signal the SEC’s growing adoption of crypto ETFs.&nbsp;&nbsp;
“While several details of the spot ETFs are no doubt being presently worked out with the SEC, the launch of a 2x Ether ETF would certainly indicate the SEC growing appetite for further crypto lined ETFs,” Barton said in an interview with CoinDesk.
Barton’s claim that the SEC might be opening up to crypto ETFs is backed by the Commission’s approval of both spot Bitcoin and spot ETH ETFs this year.&nbsp;
While the Bitcoin-based investment products started trading in January this year, <a href="https://insidebitcoins.com/news/sec-approves-ethereum-etfs-in-landmark-breakthrough-for-crypto-eth-price-nears-4000" rel="noopener noreferrer nofollow">ETH ETF</a> issuers are still waiting for the green light to launch their funds. Industry observers believe that it could take a few months.&nbsp;
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 BOOM!! APPROVED! There it is. The SEC just approved spot <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ethereum</a> ETFs. What a turn of events. It's really happening.
 h/t <a href="https://twitter.com/PhoenixTrades_?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@PhoenixTrades_</a> <a href="https://t.co/KQ39mDyCbT" rel="noopener noreferrer nofollow">pic.twitter.com/KQ39mDyCbT</a>
 — James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1793750784624214517?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 23, 2024</a>
</blockquote>
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“If they work extremely hard it can be done within a couple weeks but there are plenty of examples of this process taking 3+ months historically,” Bloomberg ETF analyst James Seyffart said in a post on X.
<h2 id="span-style-font-weight-400-nft-sales-and-meme-coin-prices-surge-following-ethereum-etf-approval-span">NFT Sales And Meme Coin Prices Surge Following Ethereum ETF Approval</h2>
VanEck <a href="https://x.com/NewsAsset/status/1793057429338354125" rel="noopener noreferrer nofollow">listed</a> its Spot Ethereum ETF on the DTCC website last week, leading to a spike in NFT (non-fungible token) sales on the Ethereum blockchain. Data from Cryptoslam.io shows that the number of Ethereum <a href="https://insidebitcoins.com/news/ethereum-nft-sales-pump-33-after-first-ethereum-etf-got-listed-on-dtcc" rel="noopener noreferrer nofollow">NFT sales</a> surged 33% between May 21 and May 22.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/hashtag/PEPE?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#PEPE</a> probably the best MEME Coin play for the <a href="https://twitter.com/hashtag/ETH?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#ETH</a> ETF <a href="https://t.co/q6QFhR1KlR" rel="noopener noreferrer nofollow">pic.twitter.com/q6QFhR1KlR</a>
 — Matthew Hyland (@MatthewHyland_) <a href="https://twitter.com/MatthewHyland_/status/1792702521615794218?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 20, 2024</a>
</blockquote>
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Meme coins also pumped shortly after the approval and subsequent DTCC listing. This resurgence allowed Pepe (PEPE) to soar to a new all-time high.
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Volatility Shares To Launch First Leveraged Ethereum ETF In US Next Month

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