Ethereum

In a landmark development, the U.S. Securities and Exchange Commission (SEC) has approved the commencement of trading for spot Ethereum (ETH) exchange-traded funds (ETFs). This approval allows mainstream investors to access the price moves of the world’s second-largest cryptocurrency through easy-to-trade vehicles. The decision follows the SEC’s earlier approval of Bitcoin (BTC) ETFs in January.Packaging Ethereum in an ETF wrapper makes it more accessible to conventional investors, who can now buy and sell ETH through traditional brokerage accounts. Since their debut, Bitcoin ETFs have attracted significant investment. While Ethereum ETFs could impact the price of ETH, analysts predict that inflows into these funds won’t be as high as for their Bitcoin-focused counterparts.This approval marks a significant step in the crypto industry, bringing Ethereum closer to mainstream adoption. Investors can now access more than 70% of the liquid crypto asset market through low-cost exchange-traded products (ETPs). <img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/54e8d4449bb048f78fabf36a09dbe920.png" /> U.S. spot Ethereum exchange-traded funds recorded $106.7 million in net inflows on its first day of trading, with over $1 billion in trading volume.The nine different ether ETFs from eight issuers began trading on Tuesday. The Grayscale Ethereum Trust (ETHE) saw $484.1 million in net outflows — the only one logging outflows among the funds, according to <a href="https://sosovalue.com/assets/etf/us-eth-spot" rel="noopener noreferrer nofollow">data</a> from SosoValue. Blackrock’s ETHA led the inflow pack with $266.55 million, followed by Bitwise ETHW’s $204 million, Fidelity FETH’s $71.31 million and Grayscale&#39;s Ethereum Mini Trust with $15.15 million in net inflows. Meanwhile, spot bitcoin ETFs in the U.S. saw $77.97 million flow out of the funds on Tuesday, ending a 12-day streak of positive flows, SosoValue <a href="https://sosovalue.com/assets/etf/us-btc-spot" rel="noopener noreferrer nofollow">data</a> showed. Bitwise’s BITB logged $70.32 million in net outflows — the largest net outflows among the ETFs. That was followed by Ark and 21Shares ARKB’s $52.29 million and Grayscale GBTC’s $27.31 million in net outflows.

Ethereum ETFs: Unlocking Mainstream Access to ETH

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دیگر آرٹیکلز 24 جولائی، 2024 پر پبلش کیے گئے ہیں

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