US Approved Ethereum Cryptocurrency Exchange Funds Launch

Market News
24.05.2024

US SEC has approved the launch of Spot Exchange Funds (ETFs) for the second-largest cryptocurrency, Ethereum. These funds will be listed on the NASDAQ, NYSE and CME.

  • What is an ETF: Exchange funds (ETFs) allow you to trade in the shares of a base asset. Spot ETFs are the actual purchase of an asset from the market to underwrite the fund’s shares.
  • Market impact: The launch of an ETF on Ethereum has become one of the catalysts for cryptocurrency price growth in 2024. This was expected by the same group of companies, including financial heavyweights such as BlackRock and Fidelity.
  • Forecasts: Experts expect that the actual release of new ETF stocks on the stock exchange will take a few weeks, but some companies have already submitted updated documents to the commission.

This is an important event for the cryptocurrency market, and it may affect the further growth of Ethereum.

Source: https://www.rbc.ru/crypto/news/664fb5949a794711a972ca70?from=copy