(https://corporatefinanceinstitute.com/resources/cryptocurrency/ethereum/)
The SEC has waved through 8 Spot ETH ETF applications. These include Black Rock, Fidelity, Grayscale, VanEck, Bitwise, Ark, Invesco Galaxy and Franklin Templeton.
Experts are surprised by this development and it could be that it was the political pressure during the election campaign that ensured approval. Opponent Donald Trump relies on cryptocurrencies. He not only finances himself personally with NFTs, but also criticized the Biden administration's course and promised to create better conditions for the industry if re-elected. This could have led to the refusal to act, at least with regard to regulated financial products. However, the legal campaign against various companies in the industry is likely to continue because the SEC does not want to change its position. It sees many digital assets as unregistered securities and is therefore taking action against providers and exchanges.
(https://coinedition.com/de/donald-trump-akzeptiert-krypto-spenden-ueber-coinbase-commerce-produkt/)
The news that the ETFs had been approved did not cause any major price jumps. On the contrary, ETH IS GIVING OFF.
Since the Ethereum ETFs will work in the same way as those for Bitcoin, one can remain bullish. If a lot of capital flows into the financial vehicles, it could have a positive impact on the Ether price. However, it remains to be seen what effect Ethereumโs issuance rate will have. Unlike Bitcoin, Ether is not strictly limited, so demand meets a limited but not ultimately tight supply.
Things are positive for investors going forward. It's getting more and more bullish. I am invested in ETH. I'm excited to see where the journey takes us.
