The US Securities and Exchange Commission (SEC) made an unexpected move recently. Eight after Bitcoin ETF Ethereum ETF announced his approval. This means that cryptocurrencies will become more widespread in the USA.
US gives green light for Ethereum ETF
The SEC announced that it has approved a total of eight spot Ethereum ETFs. Among approved companies BlackRockIndustry giants such as , Fidelity, Grayscale, Bitwise, VanEck, Ark Invest, Invesco and Franklin Templeton.
While this is an important milestone for crypto ETFs, it should be noted that the funds will not begin trading immediately. Brands that receive approval must wait for registration statements to be issued by the SEC. Let us note that negotiations between the SEC and brands continue.
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Assuming the SEC reviews these reports, it could take weeks for Ethereum ETFs to launch. For example, one analyst said in an interview, “I think it could be completed in a few weeks if they worked very hard, but historically there are many examples of this process taking 3 months.”
Ethereum ETF could continue the excitement created by Bitcoin. Until now Bitcoin ETFs It was stated that more than 14 billion dollars were spent for this purpose. In this context, it is estimated that $5-8 billion can be paid to Ethereum funds in the first few years.
This decision could also lead to the growth of the cryptocurrency market and the appreciation of Ethereum. We will see the long-term results over time.
Note: This news is not investment advice. It was written for informational purposes only.