SEC approves rule change to allow creation of ether ETFs
Publishing timestamp: 2024-05-23 17:57:48
Summary
SEC has approved rule change for ETFs that buy and hold ether, one of the world's largest cryptocurrencies. Ether ETFs are expected to be smaller than bitcoin counterparts initially. The approval is a sign that SEC's stance toward crypto may be softening. Ether is seen as a blue chip coin with different value proposition than bitcoin, as it fuels the Ethereum network for various applications. Lack of staking in ETF products may lead to less demand for ether ETFs compared to bitcoin.
Sentiment: NEUTRAL
Keywords: bitcoin/usd coin metrics, breaking news: markets, breaking news: investing, ethereum/usd coin metrics, investment strategy, business news,
Source: https://www.cnbc.com/2024/05/23/sec-approves-rule-change-to-allow-creation-of-ether-etfs.html