ETH ETF: One Reason Making It Magnet for Retail Revealed by Investor

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As a researcher with extensive experience in the cryptocurrency industry and a deep understanding of its dynamics, I firmly believe that the approval of spot Ethereum (ETH) ETFs will bring an influx of retail investors to Web3. This is reminiscent of the 2017 crypto market when individuals were drawn to digital assets due to captivating narratives surrounding Ethereum and other projects.

The head investor emphasizes the significant impact of approving spot ETFs for major cryptocurrencies on institutions, and adds that it could attract a large number of new retail investors to Web3. He makes a comparison to the 2017 crypto boom, which brought blockchain assets into the mainstream consciousness among many modern cryptocurrency supporters.

Crypto retail holders will be excited by Ether spot ETF, veteran investor Arthur Cheong says

As a crypto investor, I can’t help but be thrilled at the prospect of exchange-traded products (ETPs) being approved for spot Ethereum (ETH). Arthur Cheong, the CIO and co-founder of Asian venture capital firm DeFiance Capital, shares my excitement. His recent statement was made in response to the approval of preliminary forms for U.S. spot ETH ETFs.

Approximately 70% or more of Bitcoin Spot ETF holdings are owned by retail investors. When I was part of the retail investor community, the first cryptocurrency I purchased was Ethereum. Additionally, many individuals who entered the crypto market in 2017 did so due to Ethereum’s popularity. It’s difficult to imagine that retail investors won’t be enthusiastic about Ethereum.
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— Arthur (@Arthur_0x) May 25, 2024

In 2017, Ethereum (ETH) and XRP captured the interest of people outside the cryptocurrency community with their compelling stories. It was primarily Ethereum (ETH) that inspired most newcomers to educate themselves about crypto and invest in digital currencies.

Over the past seven years, both the underlying technology and Ethereum (ETH) have undergone substantial transformations. Yet, their prominent roles within the Web3 landscape remain uncontested.

As a crypto investor, I can’t help but be enthusiastic about Ethereum (ETH). It serves as the foundational technology for the decentralized economy of Web 3.0.

I analyzed the data and found that retail investors hold over 70% of the positions in spot Bitcoin Exchange Traded Funds (ETFs). These funds were approved for trading in the United States as early as January, as previously reported by U.Today.

His supporters agreed with this viewpoint, further stating that those managing prospective Ethereum spot ETFs would work diligently to vigorously market these new offerings to the retail public.

Ethereum (ETH) price fails to reconquer $4,000

According to U.Today’s previous report, on May 23, 2024, the US Securities and Exchange Commission (SEC) gave the green light for 19b-4 applications related to Ether Exchange Traded Funds (ETFs). However, the pivotal S-1 forms are still pending approval from the regulatory body.

For those eagerly awaiting an Ethereum ETF, the best is still to come. The price of Ether showed only modest gains, failing to be significantly moved by recent milestones.

After receiving approval, the Ethereum (ETH) price fell from $3,830 to $3,670. At the moment this text is being printed, Ether is being traded for around $3,743 on prominent cryptocurrency markets.

In the past 24 hours, Ether’s price grew by 0.89%, which is less than the 1.9% increase seen in the broader market.

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2024-05-25 18:57