Did you think Bitcoin would be the only one? Well, no, Ethereum ETFs are here.
After a few weeks of relative calm, here comes the news we’ve been waiting for: a new ETF that opens the door to an exciting summer. Are you ready?
And if you want to be well-prepared for what might happen with Ethereum, read this email to the end and get ready because we’re giving away €500 in ETH this weekend. Don’t miss out!
Ethereum ETFs approved (though only slightly)
For many, spot Ethereum ETFs were science fiction: something impossible. Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), had shown himself to be radically against Ethereum on more than one occasion.
The forecasts couldn’t have been more pessimistic: a 25% chance of approval.
However, early this week, the market was taken by surprise when Eric Balchunas, a Bloomberg ETF specialist, posted an optimistic tweet raising the chances of an Ethereum ETF approval to 75%.
Three days before the SEC was to make the decision!
The tweet stirred the market, and ETH’s price reacted positively, soaring nearly 30%, surpassing $3,800.
On Thursday the 23rd, in a 180-degree turn, the SEC approved the 10 Ethereum ETFs. However, for now, only the applications have been approved; they have not yet received the green light to operate, which will happen in the coming weeks.
Remember, when Bitcoin spot ETFs were approved, the price fell by 15% but recovered over the following weeks, up to 30%.
BlackRock will also have its Ethereum ETF
Specifically, the SEC has approved 10 spot Ethereum ETFs: BlackRock, Grayscale Investments, Fidelity, Ark Invest, 21Shares, Invesco Galaxy, Franklin Templeton, VanEck, Hashdex, and Bitwise.
As we have explained, for the ETFs to be marketed, the S-1 applications still need approval, which will take place in the coming weeks.
Nevertheless, BlackRock has already registered its Ethereum ETF with the Depository Trust and Clearing Corporation (DTCC) under the ticker $ETHA, meaning it’s only a matter of days before spot Ethereum ETFs are launched.
Now that the spot ETH ETFs have been approved but are not yet traded, it’s time to prepare for what might come.
And there’s no better way to do it than by creating your own recurring purchase strategy: set up how much ETH you want to buy and how often you want the purchase to be made automatically (daily, weekly, or monthly).
Forget about checking the price every two minutes: set up your recurring ETH purchase.
What’s next?
In the wake of the approval of the spot Ethereum ETFs, some are already thinking about which ETF will be approved next.
Investment expert Brian Kelly suggested that after Ethereum, the next ETF to be approved could be Solana.
BUY SOL / Solana Collection
