The post Ethereum ETF Approval Is Likely Say Sources Close to SEC: Report appeared on BitcoinEthereumNews.com.

We do the research, you get the alpha! Get exclusive reports and access to key insights on airdrops, NFTs, and more! Subscribe now to Alpha Reports and up your game! Go to Alpha Reports It’s Ethereum ETF deadline day for the Securities and Exchange Commission. Now sources close to the SEC are saying the regulator has shown signs of warming to the idea of allowing spot Ethereum ETFs to trade. Unnamed sources told Fox Business that the commission has been taking cues from recent court rulings and its past decision to allow ETH futures ETFs to trade as it considers whether to grant permission for nine funds to begin trading. Most pressing for the SEC is making a decision on the filings from Cboe exchange to list the VanEck Ethereum ETF and the Ark 21Shares Ethereum ETF. But that’s not all. Counting VanEck and Ark Invest with 21Shares, there are nine total applicants. The rest include BlackRock, Fidelity, Grayscale—which wants to convert its Grayscale Ethereum Trust (ETHE) the way it did its Grayscale Bitcoin Trust (GBTC)—Hashdex, Franklin Templeton, Invesco with Galaxy Digital, and Bitwise. At the time of writing, the Ethereum price is north of $3,800—that’s 2% higher than it was this time yesterday. Trading volume swelled to $45 billion in the past 24 hours as hype for a potential Ethereum ETF has surged. For reference, that’s just $4 billion shy of the amount of Bitcoin that changed hands in the past day, according to Coinglass. What’s more, Ethereum open interest has grown by another 4% to $16 billion. That’s also come with some bad news for Ethereum derivatives traders. In the past day $43 million worth of Ethereum futures positions have been liquidated, which is nearly double the value of Bitcoin futures positions liquidated in the past 24 hours, according…

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Filed under: News - @ May 24, 2024 3:26 am