The SEC will now be approving Ethereum Futures in addition to the Bitcoin ETF according to Bloomberg.
The Rollout Of The Ethereum Futures To Begin In October
Ethereum futures will be released in October with no opposition from the SEC. Like other financial organizations which apply for Bitcoin EFTs, Proshares, Bitwise and Roundhill have applied for the Ethereum ones. Ethereum EFTs will be long-term investments as one can decide to hold onto them for a long time while enjoying the benefits they have to offer.
Some would say that the crypto market is experiencing an introduction of the stock market already. Ethereum currently has a market capitalization of 192 Billion $ and it is likely to go up once the ETFs are approved.
Also Read: BlackRock’s Application For A Spot Bitcoin ETF Is Acknowledged By The SEC
The Impact Of The Ethereum ETFs Approval
The news has proven to be a positive market sentiment for the token and consequently, the value has gone up significantly. Ethereum is now back on its feet after it had dropped to 1550$. The cryptocurrency market is struggling with the major coins experiencing drastic levels of volatility.
The current price of Ethereum is 1695$. The ETFs are expected to create more bullish conditions for the token and therefore, the Ethereum Community is expecting them with plenty of anticipation.
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