Ethereum ETFs Get Final Go-Ahead From The SEC: What Happens Next?
Portfolio Pulse from Aniket Verma
The SEC has approved the trading of spot Ethereum ETFs, marking a significant milestone for cryptocurrency investments. The approved ETFs include those from 21Shares, Bitwise, BlackRock, Fidelity, Franklin Templeton, VanEck, and Invesco Galaxy. Coinbase Global Inc. will act as the custodian for 8 of the 9 newly approved ETFs. Analysts project significant inflows and increased activity in the Ethereum ecosystem.
July 23, 2024 | 1:52 am
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BlackRock's iShares Ethereum Trust is among the newly approved Ethereum ETFs, marking a significant expansion into cryptocurrency-based funds for the investment giant.
BlackRock's entry into the Ethereum ETF market through its iShares Ethereum Trust is a notable development. This approval is likely to attract significant investor interest and inflows, positively impacting BlackRock's stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 70
POSITIVE IMPACT
Coinbase Global Inc. will act as the custodian for 8 of the 9 newly approved Ethereum ETFs, which is a significant milestone for the company and the broader cryptocurrency market.
Coinbase's role as the custodian for the majority of the newly approved Ethereum ETFs positions it as a key player in the expanding crypto market. This approval is likely to boost investor confidence and drive up the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 80