Gary Gensler commented on the Ethereum ETF
Amidst the recent downturn in the cryptocurrency market, there is one event that all investors are looking forward to.
After in January of this year the US Securities and Exchange Commission (SEC) approved filings for the spot Bitcoin ETF for US markets, the price of the flagship cryptocurrency shot to new highs.
A few months later, the SEC gave partial approval for the creation of the spot Ethereum ETF. The only thing left to see such an investment product is the final approval of the companies' S-1 filings.
According to recent message Bloomberg ETF analyst Eric Balchunas expected approval to happen on July 2, 2024 - next week.
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Crypto markets are suffering, and investors may be turning from Bitcoin to EthereumThis news has ignited extreme enthusiasm among crypto investors, especially amid the recent market correction.
A few minutes ago, SEC Chairman Gary Gensler appeared as a speaker at the Bloomberg Invest event and share , that the Ethereum ETF approval process is going smoothly and smoothly.
With the SEC potentially approving applications for spot ETH ETFs, analysts expect a major influx of capital into these products, which could reverse the downtrend and push cryptocurrencies on a bullish trajectory.
At the time of writing this article Ethereum is trading at a price of $3,400 – representing a rise of 3.55% in the last 24 hours and a trading volume of $15.9 billion.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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