Spot Ethereum ETF Officially Approved in the US, Trading Starts Today!
2024-07-23
Bittime - The Spot Ethereum ETF officially approved in the United States and official trading will begin on July 23. Read this article to the end to find out the full news!
SEC Officially Approves Ethereum Spot ETF
The US SEC has notified at least two companies applying to launch the first Spot Ethereum ETF in the US that their products can begin trading on July 23.
This Spot Ethereum ETF includes products from 8 companies, including BlackRock and VanEck, which will trade on the Chicago Board Options Exchange (CBOE), Nasdaq, and New York Stock Exchange.
Bloomberg ETF analyst Eric Balchunas confirmed that the Spot Ethereum ETF has been approved by the SEC and 424(b) forms are being filed sequentially. This indicates that all preparations have been completed and trading is ready to begin.
Impact of Spot Ethereum ETFs on Crypto Markets
The approval of the Spot Ethereum ETF is predicted to have a significant impact on the crypto market. With this ETF, institutional and retail investors can have direct exposure to Ethereum without having to buy and hold crypto assets directly. This can increase liquidity and price stability in the crypto market.
Spot Ethereum ETFs allow investors to invest in Ethereum through products listed on stock exchanges, meaning investors don't have to deal with the technicalities of crypto storage and security. This ETF provides an easier and safer way for traditional investors to enter the crypto market. Additionally, this approval indicates wider acceptance of crypto assets by financial regulators.
Spot Ethereum ETF Approval Process
The Spot Ethereum ETF approval process by the SEC involves a series of stringent steps to ensure compliance with applicable financial regulations. Filing companies must provide evidence that their products can protect investors and comply with market standards set by the SEC. With this approval, the SEC indicates that it believes this product meets these criteria.
With the start of Spot Ethereum ETF trading, investors will be closely monitoring how this product performs in the market. The success of this product could pave the way for more crypto ETFs in the future, which could include a variety of other crypto assets. Additionally, this could encourage regulators in other countries to consider approval of similar products, expanding global access to crypto investments.
How to Buy Crypto with Bittime
You can buy and sell crypto assets in an easy and safe way through Bittime. over is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Monitor graphic movement price Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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