Ethereum Market Could See Massive Profits with Approval of Ether-Future ETFs in the US
The United States Securities and Exchange Commission is poised to approve the first Ether-future ETF in the US, which is expected to have a significant impact on the ETH market. Several asset managers, including Bitwise, ProShares, Grayscale, VanEck, and Valkryie, have filed applications to offer Ether-futures ETFs to investors in the US. Anonymous sources suggest that most applications will be cleared by October.
Key Points:
- The US Securities and Exchange Commission is ready to approve the first Ether-future ETF in the US.
- Asset managers like Bitwise, ProShares, Grayscale, VanEck, and Valkryie have filed applications to offer Ether-futures ETFs.
- Most applications are expected to be cleared by October.
- After the news broke, Ethereum showed signs of recovery, rising by 5% before facing resistance at the $1,700 zone.
- Currently, ETH is trading at $1,661.23 with a 1.67% loss over the last day.
This news has renewed optimism in the Ethereum market, as the approval of Ether-future ETFs will likely attract more investors and increase demand for ETH. Despite the recent crash, Ethereum has shown resilience and continues to be the second-largest cryptocurrency in the world.
Hot Take:
The approval of Ether-future ETFs in the US could be a game-changer for the Ethereum market, leading to a surge in profits. This development highlights the growing acceptance and recognition of cryptocurrencies in mainstream finance.
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