Ethereum

Bank

Spot

Status

<ul>
 <li>Wintermute predicts Ethereum spot ETFs could attract up to $4 billion in capital inflows within the next year.</li>
 <li>Bitwise will donate 10% of profits from its Ethereum spot ETF to support Ethereum open-source developers.</li>
 <li>The SEC has approved registration forms for Ethereum spot ETFs from 21Shares, Bitwise, BlackRock, and Fidelity.</li>
</ul>
<p>The United States Securities and Exchange Commission (SEC) has officially approved the S-1 applications for Ethereum spot exchange-traded funds (ETFs). Trading is set to commence at 9:30 AM ET on July 23.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">The SEC has officially approved the S-1 applications of Ethereum spot ETFs. It is expected that the initial trading will start at 9:30 on July 23. Wintermute predicts that the spot Ethereum ETF will attract up to $4 billion in capital inflows in the next year, and the price of…</p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1815568896289882451?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 23, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p><strong>Predictions and Projections</strong></p>
<p>Wintermute, a leading <a href="https://www.wintermute.com/" rel="noopener noreferrer nofollow">market maker</a>, forecasts that the newly approved Ethereum spot ETFs could attract up to $4 billion in capital inflows over the next year. This influx of capital is expected to drive a 24% increase in the price of Ethereum within the same period. Citi had <a href="https://cryptonewsland.com/citi-bank-predicts-5-4b-inflows-for/" rel="noopener noreferrer nofollow">previously projected</a> up to $5.4 billion in inflows within the first six months of trading, although they cautioned that actual figures might be lower.</p>
<p>Bitwise has pledged to donate 10% of the profits from its Ethereum spot ETF to Ethereum open-source developers. This initiative aims to support the ongoing development and innovation within the Ethereum ecosystem.</p>
<p><strong>Approvals and Documentation</strong></p>
<p>The SEC has <a href="https://cryptonewsland.com/sec-approves-ethereum-etf-debut-trading-starts-tuesday/" rel="noopener noreferrer nofollow">approved registration</a> forms from several firms, including 21Shares, Bitwise, BlackRock, Fidelity, Franklin Templeton, VanEck, and Invesco Galaxy. The only exceptions are Grayscale’s Trust and Mini Trust, which are expected to receive approval shortly before trading commences. Bloomberg senior ETF analyst Eric Balchunas confirmed the news, noting that the 424(b) forms are now available on the SEC’s website, signifying regulatory clearance for trading.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">It’s official: Spot Eth ETFs have been made effective by the SEC. The 424(b) forms are rolling in now, the last step = all systems go for tomorrow’s 930am launch. Game on. <a href="https://t.co/9MaBDBA8co" rel="noopener noreferrer nofollow">pic.twitter.com/9MaBDBA8co</a></p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1815489137484722333?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 22, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>The approval of these ETFs came as a surprise to many, given the initial lack of engagement between the SEC and issuers. Despite this, the approvals were granted following the approval of 19b-4 forms in May. Issuers needed their registration statements to go effective before launching the ETFs.</p>
<p><strong>Current Market Status</strong></p>
<p>At the time of writing, Ethereum was trading at <a href="https://coinmarketcap.com/currencies/ethereum/" rel="noopener noreferrer nofollow">$3,477.46</a>, marking a 1.11% decline over the past 24 hours. The anticipation surrounding the launch of these spot ETFs is expected to influence Ethereum’s market performance in the coming weeks.</p>
<p>The approval of Ethereum spot ETFs provides a new investment platform for the crypto market investors. The ETFs are anticipated to bring increased liquidity and stability to the market, further legitimizing Ethereum as a mainstream financial asset.</p>
<h4 class="wp-block-heading" id="h-read-also">Read also</h4>
<ul class="wp-block-yoast-seo-related-links yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/bitwise-nears-launch-of-ethereum-etf-amid-intense-market-anticipation/" rel="noopener noreferrer nofollow">Bitwise Nears Launch of Ethereum ETF Amid Intense Market Anticipation</a></li>
 <li><a href="https://cryptonewsland.com/bitwise-2024-crypto-predictions-bitcoin-etfs-ai-and-more/" rel="noopener noreferrer nofollow">Bitwise 2024 Crypto Predictions: Bitcoin, ETFs, AI, and More</a></li>
 <li><a href="https://cryptonewsland.com/big-u-s-bank-embraces-bitwise-etfs-pushing-cryptos-into-the-mainstream/" rel="noopener noreferrer nofollow">Big U.S. Bank Embraces Bitwise ETFs, Pushing Cryptos into the Mainstream</a></li>
 <li><a href="https://cryptonewsland.com/cardanos-vasil-to-finally-commence-on-sept-22/" rel="noopener noreferrer nofollow">Cardano’s Vasil To Finally Commence on Sept 22</a></li>
 <li><a href="https://cryptonewsland.com/el-salvador-to-commence-daily-bitcoin-purchases/" rel="noopener noreferrer nofollow">El Salvador to Commence Daily Bitcoin Purchases</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/sec-approves-ethereum-spot-etfs-for/" rel="noopener noreferrer nofollow">SEC Approves Ethereum Spot ETFs for Trading Set to Commence on July 23rd</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

SEC Approves Ethereum Spot ETFs for Trading Set to Commence on July 23rd

Crypto News Land

发布于 2024年7月23日的其他文章

JASMY Advances Blockchain Data Security with Strategic JATES Involvement

Mt. Gox Transfers $2.8 Billion Bitcoin To A New Address, Arkham Says

XRP Price Might Surge Nearly 50% Amid Ripple vs SEC Settlement Rumors

Wintermute Fundraising Aims For $200-300 Million With Tencent: Report

Vitalik Buterin introduces Circle STARKs for blockchain efficiency

BlockFi Concludes Sale of FTX Claims Amid Bankruptcy Process

订阅我们免费的电子期刊，获取每日最新加密领域动态！