Breaking News – SEC Approval of Spot Ethereum ETFs!**
The U.S. Securities and Exchange Commission has officially approved the launch of exchange-traded funds that physically hold Ethereum, after approving the required S-1 filings.
What's new?
The final approval was issued on July 22, 2024, allowing trading to begin at any time.
The issuers include: BlackRock, Grayscale, VanEck, Fidelity, and others.
🔍 **Why is this important?**
This step allows institutional and traditional investors to easily enter the Ethereum market through traditional brokerage.
Ethereum funds could attract between $4 billion and $15 billion during the first year, according to forecasts from Gemini and Steno Research.
📉 **Immediate market impact:**
The price of ETH surged rapidly after the announcement, from around $2,600 to about $3,500 in a short period.
💬 A question for you as an analyst:
Do you expect new capital inflows to push ETH past the resistance at $4,000? We await your interaction!
