The United States Securities and Exchange Commission (SEC) is expected to reach a final verdict on the seven firms in question by mid-March. Eric Balchunas, an ETF analyst at Bloomberg, has adjusted the probability of a spot Bitcoin ETF gaining approval by the close of 2023 to 75%, and further increased those odds to 95% by the end of 2024.Bitwise and VanEck have made a substantial entry into the US cryptocurrency market by introducing Ethereum ETFs. The market anticipates SEC approval for these ETFs, with VanEck’s unique approach directing profits to Ethereum developers. Bitwise’s offerings include the Bitwise Ethereum Strategy ETF (AETH) and a unique ETF focusing on Bitcoin and Ethereum futures.The unveiling of Ethereum ETFs has instantaneously reverberated throughout the cryptocurrency market, resulting in a surge in Ether’s value. Following the announcement, Ether witnessed an impressive price rally in a matter of hours, surpassing a remarkable three percent increase. This surge in Ether’s value has further highlighted its potential among mainstream investors, extending beyond its status as a cryptocurrency to a versatile blockchain platform with many applications.Grayscale Investments’ federal court victory has further increased the odds of a Bitcoin ETF approval. This victory has heightened expectations that the SEC may become more inclined to approve such ETFs in the near future. Although recent delays have pushed back the decision schedule, the SEC must reach a final verdict for the seven firms in question by mid-March.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | positive |
| Relevance Score | 8 |
| People | James Seyffart, BlackRock, Invesco, VanEck, Eric Balchunas |
| Companies | Protocol Guild, Bitwise Asset Management, VanEck, United States Securities and Exchange Commission (SEC), Grayscale Investments |
| Currencies | US Dollar, Ethereum, goBTC, Aave ETH v1, Bitcoin |
| Securities | None |
