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Spot Ether ETFs: NYSE Arca Approval and SEC's Authorization ...
2024-07-22 19:55:08
Markets
Stocks
Blockchain

Spot Ether ETFs: NYSE Arca Approval and SEC's Authorization Awaited

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NYSE Arca has given the green light to spot Ethereum ETFs from various companies, including Grayscale, Bitwise, and Fidelity. These funds are now awaiting approval from the SEC on their S-1 forms and are expected to launch with management fees ranging from 0.15% to 0.25% on July 23. Despite the low market depth of Ether, indicating reduced liquidity, the launch of these ETFs could lead to increased price volatility and drive up the demand for ETH.

Furthermore, the introduction of Ethereum ETFs may pave the way for the emergence of other altcoin ETFs, such as Solana's native token, SOL. SEC Commissioner Hester Peirce suggests that Ethereum ETFs may eventually allow for staking, which could pay around 4% APY and secure the proof-of-stake blockchain.

It is predicted that these ETFs could attract over $5 billion in inflows. Additionally, Solana's SOL token has been experiencing significant price growth, driven by rising fundamentals and hopes for a potential ETF.

Related news on that topic:

Bitcoin ETFs and Inflows Drive Market Sentiment

Despite a recent dip in Bitcoin's price, long-term holders are accumulating the digital asset and Bitcoin spot ETFs are seeing significant inflows. The price drop may be attributed to sell pressures from the Mt. Gox hack repayments and the German government's Bitcoin sale. However, Bitcoin has found support in the $55,000-$58,000 range, and investors are taking advantage of lower prices. Spot Bitcoin ETFs have attracted $1 billion in just three days, with BlackRock and Fidelity leading the inflows. The market sentiment remains bullish, with predictions of Bitcoin reaching $100,000 driven by ETF inflows. Meanwhile, market dynamics suggest a potential rise to $150,000 by year-end. The German government's completion of its Bitcoin sell-off has alleviated fears in the crypto market. However, the market's volatility and complexities, along with regulatory hurdles, continue to shape Bitcoin's climb. Nevertheless, Bitcoin presents a significant investment opportunity, and its market fundamentals and potential technological use cases support its long-term growth.

Ethereum ETFs Face Uncertain Demand Amid Regulatory Hurdles

Wintermute and Kaiko forecast lackluster Ethereum ETF demand, noting potential inflows and volatility. BlackRock, Fidelity, and Grayscale among 8 issuers set to launch ETH ETFs. Regulatory restrictions on staking hamper ETF competitiveness. Grayscale reveals 2.5% management fee, others range from 0.15-0.25%. Kaiko data shows ETH implied volatility surged to 67%. Price sensitivity expected with upcoming ETF inflows. Grayscale's ETHE fund anticipates outflows transitioning to spot ETF. Spot Ethereum ETF trading begins on July 23 at major US exchanges. Analysts anticipate a price push to $6,500 with Ethereum ETF approvals. Ether ETFs greenlit by SEC, signaling growing acceptance of cryptocurrencies in traditional finance.

Read 3 more recent news on this topic

The press radar on this topic:

The Street
25. Juli 2024 um 15:27

Spot ether ETFs to begin trading next week, report says

Finance
Cryptocurrencies & blockchain
Spot ether ETFs launching next week from BlackRock, Franklin Templeton, VanEck; $15 billion in estimated inflows; ethereum price jumps 6%; ethereum network, stablecoin growth, fewer regulatory hurdles to propel price; 21Shares, Grayscale, Fidelity, Bitwise, Invesco also vying for spot ether ETF; staking to benefit investors and network; mature market structure, bitcoin and ethereum ETFs key drivers; Nathan McCauley, CEO of Anchorage Digital, says approval is first step, staking next.
The Street
30. Juli 2024 um 20:45

Ethereum ETFs Potentially Able To Stake In The Future: SEC's Peirce

Cryptocurrencies & blockchain
Finance
SEC Commissioner Hester Peirce suggests Ethereum ETFs from VanEck, Fidelity and others could later allow staking Ethereum, which pays ~4% APY and secures the proof-of-stake blockchain, though SEC Chair Gensler views staking as an investment contract. Ethereum ETF issuers had originally sought to enable staking but removed it ahead of SEC approval in May. Peirce says staking features could be reconsidered, though her views may not reflect the full Commission. Fundstrat predicts Ethereum ETFs co..
Coinage
22. Juli 2024 um 10:30

SEC Commissioner Peirce Weighs In On Solana ETF Applications

Cryptocurrencies & blockchain
Finance
SEC Commissioner Peirce discusses the Solana ETF application process, noting the lack of a mature Solana futures market may be a challenge, unlike the established Ethereum futures market that helped Ethereum ETFs gain approval. Bitcoin ETFs were approved in January, paving the way for Ethereum ETFs.
CoinDesk
22. Juli 2024 um 12:04

Solana ETF Hopes, Rising Fundamentals Are Driving SOL Prices Higher, Traders Say

Finance
Cryptocurrencies & blockchain
Solana's SOL token has gained over 18% in the past week, outpacing larger cryptocurrencies. The total value of tokens locked on Solana has increased over 25% in a month, crossing $5.28 billion. Increased DEX activity, rising daily active users, and growing fee accrual to the network are driving Solana's robust growth. Solana has netted over $2 billion in on-chain trading volumes each day for the past week. Easing regulatory policies under the Trump admin and the upcoming ETH ETF launch are also..
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