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Cryptocurrency ETFs Raise Ether Approval Hopes
Investors have become increasingly optimistic about the SEC’s approval of spot ether exchange-traded fund applications. This renewed optimism has pushed the cryptocurrency to new heights, with Ether (ETH) up around 20% between Monday and Tuesday.
According to Bloomberg analysts Eric Balchunas and James Seyffart, quoted on Yahoo Finance, the odds that the SEC will approve spot ETH ETFs have skyrocketed to 75% from 20 previously predicted, boosting investor confidence.
The cryptocurrency market is ready to get SEC approval
According to Yahoo Finance, the SEC approval will represent a milestone in the cryptocurrency market, potentially paving the way for a substantial influx of institutional capital into the market.
According to Reuters, recently released data showed that in the first quarter of 2024, global venture capital investments in cryptocurrency startups increased to $2.4 billion, suggesting a possible resurgence in investor interest. After the approval of spot ETH ETFs, investor interest may increase, leading to a rally in the cryptocurrency market.
Ether will likely gain from Bitcoin’s growth
After the SEC approved several spot Bitcoin ETFs earlier this year, the price of Bitcoin experienced a huge surge that attracted billions of dollars in investments, increasing 67% in value. The approval of the spot ETH ETF could also lead to a surge in the value of the digital currency.
Even though a spot ETF has not been approved, Ether is up about 59% since the start of 2024. This implies that the digital asset could have further upside momentum if the SEC issues a positive verdict.
Featured ETFs
Below, we highlight some ETFs with heavy exposure to Ether, which offer investors the chance to strengthen their portfolios with the cryptocurrency. These ETFs offer a way to profit from future market movements as the SEC prepares to take a potentially bullish stance.
ProShares Ether Strategy ETF (EETH)
The ProShares Ether Strategy ETF employs an active strategy and has raised an asset base of $79.07 million. The fund charges an annual fee of 0.95% and has a dividend yield of 4.66%.
The ProShares Ether Strategy ETF has gained 24.40% in the last three months and 23% in the last week.
VanEck Ethereum Strategy ETF (EFF)
The VanEck Ethereum Strategy ETF employs an active strategy and has raised an asset base of $28.81 million. The fund charges an annual fee of 0.66% and has a dividend yield of 4.30%.
The VanEck Ethereum Strategy ETF has gained 21.56% over the past three months and 18% over the past week.
Bitwise Ethereum Strategy ETF (AET)
The Bitwise Ethereum Strategy ETF uses an active strategy and has accumulated an asset base of $12.21 million. The fund charges an annual fee of 0.85% and has a dividend yield of 4.38%.
The story continues
The Bitwise Ethereum Strategy ETF has gained 22.49% over the past three months and 24% over the past week.
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Bitwise Ethereum Strategy ETF (AETH): ETF Research Reports
ProShares Ether Strategy ETF (EETH): ETF Research Reports
VanEck Ethereum Strategy ETF (EFUT): ETF Research Reports