As a seasoned crypto investor with a few gray hairs and battle scars from past market volatility, I’ve learned to be cautious when it comes to market news. The recent approval of the Ethereum ETFs by the SEC is certainly an exciting development, but it’s essential not to let the excitement cloud my judgment.
The Depository Trust and Clearing Corporation has officially listed BlackRock’s Ethereum exchange-traded fund (ETF), which is backed by Ethereum, with the ticker symbol ETHA.
As a crypto investor, I’m thrilled to share that on Thursday, the U.S. Securities and Exchange Commission approved 19b-4 forms for Ethereum ETFs from notable issuers like BlackRock, Fidelity, VanEck, and others. This means these companies are one step closer to launching their Ethereum exchange-traded funds in the US market.
According to U.Today’s report, the SEC was predicted to reject these funds a week ago. Yet, astonishingly, the agency took an unexpected about-face at the last moment.
After securing approval for 19b-4s from the SEC, the organization is currently in discussions with prospective issuers concerning their S-1 registration statements.
To initiate trading for Ethereum ETFs, the approval of each corresponding S-1 registration statement is essential. Consequently, once approved, it’s now evident when these ETFs will commence transactions in the market.
“James Seyffart mentioned on X’s social media platform that this approval doesn’t signify trading will start tomorrow. It’s only 19b-4 approval, and they still need to obtain clearance on the S-1 documents. We anticipate it may take a few weeks, but it could potentially take longer. More information should be available within a week or so.”
Sell the news?
Following a significant surge in value, the Ethereum price on Bitstamp currently stands at $3,629, having scaled back some of its earlier gains. Notably, seasoned trader John Bollinger has issued a cautionary statement, expressing concerns that Ethereum’s recent upward trend may have become excessively extended.
Read More
- ENA PREDICTION. ENA cryptocurrency
- SOL PREDICTION. SOL cryptocurrency
- USD PHP PREDICTION
- BTC PREDICTION. BTC cryptocurrency
- SHIB PREDICTION. SHIB cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- Red Dead Redemption: Undead Nightmare – Where To Find Sasquatch
- USD COP PREDICTION
- USD ZAR PREDICTION
- TARA/USD
2024-05-24 12:23