Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Gary Gensler commented on the Ethereum ETF

Gary Gensler commented on the Ethereum ETF

Cryptodnes2024/06/26 01:28
By:Cryptodnes

Amidst the recent downturn in the cryptocurrency market, there is one event that all investors are looking forward to.

After in January of this year the US Securities and Exchange Commission (SEC) approved filings for the spot Bitcoin ETF for US markets, the price of the flagship cryptocurrency shot to new highs.

A few months later, the SEC gave partial approval for the creation of the spot Ethereum ETF. The only thing left to see such an investment product is the final approval of the companies' S-1 filings.

According to recent message Bloomberg ETF analyst Eric Balchunas expected approval to happen on July 2, 2024 - next week.

READ MORE:
Crypto markets are suffering, and investors may be turning from Bitcoin to Ethereum

This news has ignited extreme enthusiasm among crypto investors, especially amid the recent market correction.

A few minutes ago, SEC Chairman Gary Gensler appeared as a speaker at the Bloomberg Invest event and share , that the Ethereum ETF approval process is going smoothly and smoothly.

With the SEC potentially approving applications for spot ETH ETFs, analysts expect a major influx of capital into these products, which could reverse the downtrend and push cryptocurrencies on a bullish trajectory.

At the time of writing this article Ethereum is trading at a price of $3,400 – representing a rise of 3.55% in the last 24 hours and a trading volume of $15.9 billion.

SHARE: SHARES
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Revisiting Ethena: After an 80% drop, is ENA still undervalued in the hitting zone?

This article reflects the author's thoughts up to the time of publication, which may change in the future. The views expressed are highly subjective and may contain errors in facts, data, or reasoning. Criticism and further discussion from peers and readers are welcome, but this article does not constitute any investment advice.

Chaincatcher2024/11/01 13:11

Overview of the U.S. Treasury's Report on Crypto Assets and the Treasury Market

Despite the small base, crypto assets have still experienced rapid growth.

Chaincatcher2024/11/01 13:11