There was another positive development for the cryptocurrency markets. The SEC has officially granted ETF approval for Ethereum (ETH). Institutions will now be able to officially invest in ETH.
Last night, there was an important development for the cryptocurrency markets. US Securities and Exchange Commission (SEC) for ETH, the world’s second largest cryptocurrency announced that it has approved spot ETF. So now ETH, the local currency of the Ethereum network, is just like Bitcoin (BTC). security will be treated as .
A similar incident occurred for BTC a few months ago, and this situation was criticized by the cryptocurrency community. was welcomed. Because with such a decision, corporates started to officially invest in BTC. Here’s all this, now It will also apply to ETH.
It had a positive impact on the ETH price
In fact, the claim that ETF approval will be given for ETH, has been on the agenda for a while. This caused the markets to rise. ETH reached $ 3,900 with the announcement of the decision. ETH price is as of the time this article was written. From $3,806 is being traded.
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With the approval of the ETF for ETH, a brand new page has been opened for the cryptocurrency world. But for the cryptocurrency industry Don’t expect immediate change.. Because ETF issuers must have certain requirements to officially list spot ETH ETFs. They will need to work. According to industry sources, this could take several days, weeks or months.