Ethereum

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<p class="is-style-lead">The U.S. SEC has granted the final go-ahead for the first spot ETH ETFs in the United States. Trading is set to begin tomorrow, July 23.&nbsp;</p> 
<p>Today, July 22, the U.S. Securities and Exchange Commission <a href="https://www.sec.gov/cgi-bin/browse-edgar?action=getcurrent" target="_blank" rel="nofollow">accepted</a> the securities filings of several spot Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>) exchange-traded funds, clearing them for trading starting on Tuesday, as scheduled.</p> 
<p>The SEC approved ETH ETF products from a total of eight issuers, including asset management giants Fidelity, Blackrock and VanEck, as well as 21Shares, Bitwise and others.&nbsp;</p> 
<p>The SEC first <a href="https://crypto.news/sec-greenlights-spot-ether-etfs-but-ether-price-shows-little-movement/" target="_blank" rel="noreferrer noopener">approved</a> applications for the above ETH ETFs at the end of May, but firms were still waiting for their S-1 filings —&nbsp;the registration of new securities — to be approved in order for trading to officially start. Last week, the SEC <a href="https://crypto.news/ethereum-etfs-to-begin-trading-soon-interest-in-eth-to-grow-over-time/" target="_blank" rel="noreferrer noopener">informed</a> issuers that they would need to finalize their S-1 documents by July 17 in order to receive approval for trading to start on July 23.&nbsp;</p> 
<h2 class="wp-block-heading" id="how-will-the-price-of-eth-react">How will the price of ETH react?&nbsp;</h2> 
<p>A report from Kaiko Research <a href="https://crypto.news/eth-etf-launch-sell-the-news/" target="_blank" rel="noreferrer noopener">published</a> today suggested that the outlook for the price of ETH after the spot ETFs launch is unclear. The firm noted that when futures-based ETH ETFs <a href="https://crypto.news/kaiko-suggests-why-futures-ethereum-etfs-release-was-lackluster/" target="_blank" rel="noreferrer noopener">launched</a> last year, the demand was “underwhelming.”</p> 
<p>The price of ETH has dropped about 2.5% over the past 24 hours, currently trading near $3,400. Earlier today, analysts from IntoTheBlock <a href="https://crypto.news/ethereum-price-analysis-2024/" target="_blank" rel="noreferrer noopener">noted</a> that the Ethereum price faces critical resistance around $3,500 levels.</p> 
<figure class="wp-block-image size-full is-resized">
 <picture fetchpriority="high" decoding="async" class="wp-image-14286484" style="width: 100%;height:auto"> 
  <source type="image/webp" srcset="https://crypto.news/app/uploads/2024/07/ETHUSDT_2024-07-22_23-35-02.png.webp"> 
  <img fetchpriority="high" decoding="async" width="1856" height="1086" src="https://crypto.news/app/uploads/2024/07/ETHUSDT_2024-07-22_23-35-02.png" alt="Ethereum ETFs get final approval, trading to start Tuesday - 1"> 
 </picture> 
 <figcaption class="wp-element-caption">
  30-minute ETH price chart, July 15-22, 2024 | Source: <a href="https://crypto.news/price/ethereum/" target="_blank" rel="noreferrer noopener">crypto.news</a>
 </figcaption>
</figure> 
<p>In general, as with spot Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) ETFs, analysts — and the industry more broadly — see the launch of a spot ETF product as a bullish sign for wider adoption. Since ETFs are traded on traditional exchanges via brokerage accounts, a wider swathe of more traditional investors now have access to the two largest cryptocurrencies by market cap via a vehicle that they are already comfortable trading.&nbsp;</p> 
<h2 class="wp-block-heading" id="first-bitcoin-now-ethereum">First Bitcoin, now Ethereum</h2> 
<p><span style="margin: 0px; padding: 0px;">Spot Bitcoin ETFs were&nbsp;<a href="https://crypto.news/crypto-investment-products-get-1-18b-inflows-amid-spot-bitcoin-etf-launch/" target="_blank" rel="noopener">approved</a>&nbsp;for trading in the U.S. in January and, since th</span>en, have seen&nbsp;<a href="https://crypto.news/spot-bitcoin-etfs-soar-total-net-inflow-17-billion/" target="_blank" rel="noreferrer noopener">record inflows</a>. Since the launch of spot BTC ETF trading, the price of Bitcoin has increased almost 50%, currently trading near $67,700.</p> 
<figure class="wp-block-image size-full">
 <picture decoding="async" class="wp-image-14286486"> 
  <source type="image/webp" srcset="https://crypto.news/app/uploads/2024/07/BTCUSDT_2024-07-23_00-01-04.png.webp"> 
  <img decoding="async" width="1856" height="1086" src="https://crypto.news/app/uploads/2024/07/BTCUSDT_2024-07-23_00-01-04.png" alt="Ethereum ETFs get final approval, trading to start Tuesday - 2"> 
 </picture> 
 <figcaption class="wp-element-caption">
  4-hour BTC price chart, Janurary 8 – July 22, 2024 | Source: <a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">crypto.news </a>
 </figcaption>
</figure>

Ethereum ETFs get final approval, trading to start Tuesday

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