The cryptocurrency market is about to reach a historic milestone. Today, the U.S. Securities and Exchange Commission (SEC) granted final approval to launch the first Ethereum (ETH) spot investment trust. This news represents a significant step forward in the acceptance of cryptocurrencies by the mainstream financial world.
Looking to stock up on some ETH at the last minute before the ETFs hit the market? Then Dutch crypto broker Anycoin Direct offers a unique opportunity. New users are temporary Free and without charge ETH.
What time do ETFs activate?
The SEC approval means that Ethereum ETFs will be able to trade starting today, July 23, once U.S. markets open at 9:30 a.m. ET in the United States, which is equivalent to 3:30 PM Netherlands time This afternoon, Bloomberg ETF analyst Eric Balchunas confirmed the news on X.
It’s official: Spot Eth ETFs have been cleared by the SEC. Forms 424(b) are being filed now, and the final step = all regulations will go live tomorrow at 9:30 AM. Game on. pic.twitter.com/9MaBDBA8co
– Eric Balchunas (@EricBalchunas) July 22, 2024
The launch of these ETFs opens the door to investors who were previously hesitant due to regulatory doubts surrounding cryptocurrencies. According to market analysts, this new financial product will attract a significant amount of capital. The American bank Citibank recently predicted that these ETFs will attract up to $5.4 billion in the first six months of trading. Even more optimistic estimates predict an inflow of up to $15 billion.
Impact on the market and Ethereum
While the consensus among analysts is that Ethereum ETFs will not reach the same investment level as their Bitcoin counterparts, the launch is expected to spark an upward trend in Ethereum. This in turn could boost other cryptocurrencies as well.
For investors around the world, the launch of Ethereum ETFs provides new opportunities to invest in Ethereum in a regulated manner. The ability to invest through an ETF significantly reduces the barriers, especially for those who were previously reluctant to buy and store cryptocurrencies directly due to the complexity and security risks. This development is expected to attract more than just new investors to the cryptocurrency market.
Get Ethereum for Free
Do you not want to miss out on potential price impulses from the ETH price or would you like to expand your existing ETH treasury without costs? Then the Anycoin Direct promotion might be very interesting. If you register now, go through the verification process and place at least one successful order, you will receive it immediately Free Ether Tokens on Your Wallet Deposited.
Share views: 1,027
Don’t want to miss important cryptocurrency news anymore? Then follow our brand new WhatsApp channelWe keep you updated with the most important cryptocurrency news 7 days a week.