After the SEC approved two futures-based Bitcoin ETFs recently, Bloomberg Intelligence has indicated in a report on Nov 02 that an Ethereum ETF might be the next offering on the stock exchange, even before a highly desired spot-based another Bitcoin ETF is approved. Bloomberg’s analyst James Seyffart believes that an Ethereum ETF is likely to be approved by the first quarter of the next year 2022, while spot-based Bitcoin ETFs are likely to be pushed until late 2022 or beyond. Ether (ETH) is likely to see a significant boost from the ETF approval.
The general mood in crypto has been bullish after the recent launch of two Bitcoin ETFs and analysts have been hopeful that this will pave the way for exchange-traded funds for other cryptocurrencies also, especially the next logical Ethereum ETF product. While Bitcoin is currently the top crypto by market capitalization, Ethereum itself is the world’s most used and adopted smart contracts blockchain network. It generates the highest fees, settles the most value across, has the highest number of users and developers, and powers an overwhelmingly large part of the crypto verse.
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About Ethereum ETF
The Ethereum ETF refers to an exchange-traded investment channel that tracks the Ether (ETH) crypto underlying price. ETFs enable investors to increase their investments without buying the underlying asset. For those people looking to concentrate only on profits and losses, ETFs give a more manageable option to purchasing and exchanging personal assets conveniently.
Ethereum ETF can enable fresh money to enter from the traditional finance space since it reduces the entry barriers by allowing people to invest in this space through platforms and products, they are already familiar with and without any minimum investment capital. It exists on stock exchanges, allowing investors to access liquidity. Investors can also be certain about the tax implications and regulatory protection.
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