Ether gets ETF approval from US regulator; experts predict volatility ahead
Live MintThe US markets regulator Securities and Exchange Commission on Thursday confirmed that it has approved applications from Nasdaq, CBOE and NYSE to enable exchange traded funds holding Ethereum's native token, ETH. One ETF analyst James Seyffart at Bloomberg Intelligence said, “A week ago, I would've said you were a little crazy to think that these ETFs were going to get SEC approval.” There are speculations that ETF approval could lead to 60 percent rally as ETH buying increases. The Ether's dip below $3,800 on Thursday was reportedly seen as an after-effect of sell-off by Symbolic Capital Partners, which sold 6,968 ETH in one minute worth $27.38 million, shared Wu Blockchain on X platform. “The introduction of spot bitcoin ETFs has already demonstrated significant benefits for the digital assets and ETF space, and we believe that spot ether ETFs will similarly provide safeguards for U.S. investors," said Rob Marrocco, global head of ETP listings at Cboe Global Markets, reported Reuters.
History of this topic
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