SEC Approves Ether ETF

The SEC has given the green light to the Ether ETF, a notable milestone following the previously approved Bitcoin ETF that sparked significant momentum in the crypto market. With Germany nearing the end of sales and the US awaiting inflation data, the SEC’s announcement of the Ether ETF listing date is highly anticipated and could potentially reverse the declining trend seen over the past months.

Why Did the SEC Reverse Its Stance?

Initially, the SEC had reservations about the Ether ETF but subsequently changed its position. A last-minute amendment caused delays in completing the filings. The final listing date will be confirmed once the revised S-1 Forms, updated multiple times, are reviewed. Today, issuers have submitted these updated documents to the SEC. Access COINTURK FINANCE to get the latest financial and business news.

What Are the Predictions for ETH Inflow?

Bloomberg Senior ETF Specialist James Seyffart estimates that the Ether ETF could attract 20-25% of the net flows seen by Bitcoin ETFs. This translates to a net inflow of $3-4 billion in the first six months, potentially making ETH one of the most successful ETF launches, second only to Bitcoin’s. However, the future remains uncertain, and these predictions should be taken cautiously.

Key Inferences for Users

– ETH ETF approval could lead to a bullish trend for ETH and other altcoins.
– Potential net inflows of $3-4 billion in the initial six months.
– ETH could challenge Bitcoin’s market dominance.
– Watch for mass exits similar to Grayscale’s ETHE during initial listing.
– US elections and potential Fed rate cuts could further support the bullish trend.

Ultimately, while traditional market investors are keen on Bitcoin, a balanced exit environment for ETH could generate a positive market atmosphere. Additionally, the upcoming US elections and possible Federal Reserve rate cuts could further bolster this optimistic outlook.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.