Ethereum
Ethereum ETF Gets Major Boost With New York Stock Exchange Approval
Gamza Khanzadaev
Ethereum Just Got a Huge Boost as NYSE Approved Spot ETF Listings, and the SEC Could Be Next
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As we just learned, the New York Stock Exchange (NYSE) has officially approved the listing of a Bitwise Ethereum spot ETF. Trading of an ETF on the major altcoin of the crypto markets is expected to begin on Tuesday, July 23.
However, the United States Securities and Exchange Commission (SEC) has yet to give its official approval.
In a related update, the NYSE greenlighted another spot Ethereum ETFthis one from Grayscale. Documentation confirming this approval has been made available.
Today?
Bloomberg analyst James Seyffart said the SEC could greenlight these spot Ethereum ETFs as early as today. He expects that many ETF prospectus documents will be posted on the SEC website soon.
According to the latest reports, Ethereum (ETH) is trading at around $3,493.28, down slightly by around 2% over the past 24 hours. Despite this decline, trading volume has jumped 100% over the same period, reaching $19.94 billion. The market capitalization of Ethereum amounts to $416 billion.
ETH to USD by CoinMarketCap
This move by the NYSE is seen as a substantial boost for Ethereum-related investment products and could pave the way for an imminent decision by the SEC. Investors and industry observers will be closely monitoring the upcoming decisions and the subsequent impact on Ethereum market dynamics.
About the Author
Gamza Khanzadaev
Financial analyst, trader and crypto enthusiast.
Gamza holds a degree in Finance and Credit with a specialization in Securities and Financial Derivatives. He also completed a Master’s program in Banking and Asset Management.
He wants to participate in covering economic and fintech topics, as well as raising awareness among more people about cryptocurrencies and blockchain.