- BlackRock’s Ethereum ETF listed by Depository Trust under ETHA ticker.
- SEC approval of Ethereum ETFs hints at regulatory shift for crypto.
- Ethereum prices stabilize post-ETF approval, hinting at cautious optimism.
Yesterday, May 23, marked a significant regulatory step forward as the SEC approved 19b-4 forms for Ethereum ETFs from issuers like BlackRock, Fidelity, and VanEck. Following the development, BlackRock’s Ethereum ETF, has now listed on the Depository Trust and Clearing Corporation under the ticker ETHA. This moves marks a step closer to actual trading following.
Despite previous concerns, the SEC’s approval was unexpected, signaling a potential shift in regulatory stance toward crypto-based financial products. The next crucial phase involves the approval of S-1 registration statements for these ETFs, which remains pending.
Market analysts, including James Seyffart, suggest that while the 19b-4 approvals are in place, the trading of these ETFs might still take a few weeks as S-1 documents are reviewed.
Ethereum Price Fluctuations Post-Approval
Following the announcement, Ethereum experienced a significant rally, although gains have since moderated, with prices stabilizing around $3,704 at press time. The market’s reaction reflects cautious optimism as traders and investors await final clearances for ETF trading, influenced by commentary from notable figures like trader John Bollinger, who cautioned about the rally’s extent.
Read CRYPTONEWSLAND on
google news
As the cryptocurrency sector continues to merge with traditional financial markets, these developments mark critical steps in broader market acceptance and the maturation of crypto as an investable asset class.
Read Also:
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
