2024-3-31 20:09 |
Consensys, the software company behind MetaMask digital wallet, is calling on regulators to recognize the benefits of Ethereum (ETH). origin »
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Spot Bitcoin ETFs launched the fourth quarter of 2024 on a turbulent note ending the week with a net negative outflow of over $300 million. This development occurred in tandem with Bitcoin’s bearish start to October in which it declined over 6% in the first five days of the month.
Post the Spot Ethereum ETFs launch, the ETH price has continued to struggle unexpectedly, proving that the launch of the Spot ETFs were a ‘sell the news’ event. So far, the second-largest cryptocurrency by market cap has lost around 10% of its value since the Spot Ethereum ETFs trading began on Tuesday, July 23, and could see further decline from here, according to an analysis from Matrixport.
Nine spot Ethereum ETFs commenced trading on the US stock market on Tuesday, marking a pivotal moment for the crypto industry following the Securities and Exchange Commission’s (SEC) green light on Monday.
There have been many discussions and opinions about how much the Spot Ethereum ETFs will affect the ETH price. Crypto analyst and trader Raman has also joined the conversation and revealed how these funds provide upside catalysts for Ethereum.
In a day marked by the launch of the long-anticipated spot Ethereum (ETH) Exchange-Traded Fund (ETF) in the United States, the market’s response has been unexpectedly subdued. Analysts from Singapore-based crypto asset trading firm QCP Capital have shed light on the reasons behind this muted reaction, blaming the situation on previous market behaviors and other news from the broader market.
The debut of spot Ethereum ETFs in the US market signifies a growing acceptance and integration of cryptocurrencies into mainstream financial systems. The post Spot Ethereum ETFs debut on US markets as trading commences appeared first on Crypto Briefing.
The launch of Ethereum ETFs could broaden mainstream crypto investment but may face limited demand due to the absence of staking options. The post BlackRock’s spot Ethereum ETF begins pre-market trading amid muted demand predictions appeared first on Crypto Briefing.