Spot Ethereum ETF Makes BlackRock 'Very Eager To Push' This Trending Coin's Narrative, Trader Claims
Portfolio Pulse from Khyathi Dalal
The approval of spot Ethereum ETFs has led to a rally in Ondo Finance (ONDO), with traders predicting further upside. The Real World Assets sector is seen as a major beneficiary, with ONDO and Chainlink (LINK) highlighted as key players. ONDO has seen a 15% price increase and significant trading volume, contributing $195 million to BlackRock's onchain fund BUIDL.
May 24, 2024 | 1:31 pm
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POSITIVE IMPACT
The approval of spot Ethereum ETFs is expected to boost the institutional adoption of Ethereum, making it a more attractive asset class.
The approval of spot Ethereum ETFs is a significant milestone that is likely to increase institutional interest and investment in Ethereum, driving its price higher.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 80
POSITIVE IMPACT
Chainlink is highlighted as a key player in the Real World Assets sector, benefiting from the approval of spot Ethereum ETFs.
Chainlink's role in the Real World Assets sector positions it to benefit from the increased institutional interest in Ethereum following the ETF approval.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 70