Welcome to Extreme Investor Network, where we bring you the latest and most valuable insights into the world of investing. Today, we are thrilled to share some exciting news in the cryptocurrency space: the U.S. Securities and Exchange Commission has given the green light for exchange-traded funds (ETFs) that hold ether, the world’s second-largest cryptocurrency.
Several fund issuers have submitted additional registration statements, and exchanges have indicated that trading is expected to begin as soon as Tuesday. This development comes after the SEC approved rule changes for exchanges to list ether funds back in May. Companies such as BlackRock, Fidelity, and VanEck, as well as crypto-focused firms like Bitwise, 21Shares, and Grayscale, are all in the race to launch ether ETFs.
The launch of ether ETFs follows the successful debut of bitcoin ETFs, which have collectively attracted over $16 billion in net inflows. While the total market for ether is smaller than that of bitcoin, the ether funds are still expected to be significant in size. Bitwise Chief Investment Officer Matt Hougan predicts that the funds could attract $15 billion over their first year and a half on the market, especially as many investors seek exposure to both bitcoin and ether.
It’s important to note that while there are already funds in the market that use ether futures contracts, these new ETFs will be the first in the U.S. to buy and hold spot ether. This development signals a new era of accessibility and diversification for investors looking to access the potential of blockchain technology through cryptocurrencies.
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