Hello friends,
I am doing good, and I hope you are having a good time with your near and dear ones. I'm trying to track the progress of Ethereum Spot ETF over the last few months. I believe that Ethereum is a high-value coin and it is a popular project so once spot etf trading is live then we are going to see a nice price spike in the market. I hope that most of us are aware that the first approval for spot ETF has been done by the Security and Exchange Commission and the second part was pending. This approval was awaited for some time and now the time has come to reveal the exciting news.
Security and Exchange Commission has approved spot ETF trading now. As per the NEWS UPDATE 5 Ethereum spot ETF will be live for trading starting from 23rd July. This is great news and I'm sure that the community must be excited especially the people who are holding ETFs or they are trading in the same segment. The first part of Ethereum is part ETF was approved in Mammoth and now almost after two months, we are going to have the trading going live. With this trading, the door for institutional investors will also open and we can expect more money inflow in the ethereum. Earlier we saw the same momentum for Bitcoin spot ETF which is now going to be for this leading altcoin in the market.
Five spot Ethereum exchange-traded funds (ETF) will begin trading on the Chicago Board Options Exchange on July 23, “pending regulatory effectiveness,” CBOE announced on July 19.
The Franklin Templeton's Ethereum ETF will be live for trading on 23rd July as per this update and now its like a gap just the weekend. The Ether price has only gone up beyond $3500 and it's good because I believe a lot of people have started buying ethereum already. After all, the news has been confirmed. I'm not sure but looks like after this maybe we can see the supply crunch for this coin in the market if there is more buying happening after the trading goes live. A similar situation has been seen in the market for Bitcoin and it will not be a surprise if the same happens for Ether as well.
It is expected that we are going to see the bull run market by the end of this year which is no guarantee as of now but just speculation. If it happens then the ether price can be around 8 to 10 thousand dollars. This price appreciation is completely dependent upon the market demand and most likely it is going to happen because this is the second spot area of in crypto market after Bitcoin and undoubtedly Bitcoin is for ETF into the
Let's see how the market sentiments happen now after the 23rd July post-trading start for ether and what value we are going to see for this coin in the market. Maybe it can also trigger the price appreciation for Bitcoin but it is too early to predict so better to wait for the day and see how things are going to work in the crypto market.
Thank you
Peace @mukund123
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