ETFs
Crypto ETFs Buzz on Ether Approval Hopes
Investors have become increasingly optimistic that the SEC will approve applications for spot exchange-traded funds for ether. This renewed optimism has propelled the cryptocurrency to new highs, with Ether (ETH) climbing around 20% on Monday and Tuesday.
According to Bloomberg analysts Eric Balchunas and James Seyffart, cited on Yahoo Finance, the chances of the SEC approving ETH spot ETFs have increased to 75% from the previously expected 20%, boosting investor confidence.
Crypto Market Set to Benefit from SEC Approval
According to Yahoo Finance, the SEC approval will be a significant milestone in the cryptocurrency market, potentially paving the way for a significant 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 surge in interest investors. After the approval of spot ETH ETFs, investor interest could increase a notch, leading to a rally in the crypto market.
Ether likely to gain on Bitcoin growth
After the SEC approved several Bitcoin spot ETFs earlier this year, the price of Bitcoin saw a huge surge that attracted billions of dollars in investments, increasing 67% in value. The approval of the ETH ETF spot could also lead to an increase in the value of the digital currency.
Even though a spot ETF has not been approved, Ether is up approximately 59% since the start of 2024. This implies that the digital asset could see additional bullish momentum in case the SEC issues a verdict positive.
Focus on ETFs
Below, we highlight a few ETFs with heavy exposure to Ether, providing investors with an opportunity to bolster 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 uses an active strategy and has gathered 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% over the past three months and 23% over the past week.
VanEck Ethereum Strategy ETF (EFUT)
The VanEck Ethereum Strategy ETF uses an active strategy and has gathered 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 (AETH)
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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ETF Bitwise Ethereum Strategy (AETH): ETF Research Reports
ProShares Ether Strategy ETF (EETH): ETF Research Reports
VanEck Ethereum Strategy ETF (EFUT): ETF Research Reports