Nine Ethereum ETFs Launch in US, But Post Significant Losses in First Two Days
The SEC has given approval to nine ETFs that track Ether cryptocurrency, following the launch of the first spot Bitcoin ETFs seven months ago. However, the new products did not perform well in their initial two days of trading, with all of them experiencing significant losses. Each ETF will monitor the spot price of Ether, which is the second-largest cryptocurrency in the world and the driving force behind the Ethereum blockchain. Despite expectations that the price of Ether would increase on the day the ETFs were launched, the market was not favourable to either the token or the ETFs, with Ether falling 4.4% on the first day of trading.
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.
You may also like
Clayton (CLAY): The Fun-Filled Mascot and Game Hub of the TON Ecosystem
What is Clayton (CLAY)? Clayton (CLAY) is a mini-app within Telegram that offers fun, easy-to-play games and rewards in the form of CL points. As a mascot, Clayton symbolizes the spirit of play, interaction, and growth within TON, encouraging users to dive into games, rack up rewards, and invite fr
New OpenSea Platform Teased for December 2024: What We Know
Trending news
MoreCrypto prices
More
