Yahoo Finance Crypto ETFs Buzz on Ether Approval Hopes
Investors grew increasingly optimistic about the SEC approving spot ether exchange-traded fund applications. This renewed optimism propelled the cryptocurrency to new heights, with Ether (ETH) soaring approximately 20% over Monday and Tuesday.
According to Bloomberg analysts Eric Balchunas and James Seyffart, as quoted on Yahoo Finance, the odds that the SEC might approve spot ETH ETFs skyrocketed to 75% from the previously anticipated 20%, boosting investor confidence.
Crypto Market Set to Get a Lift on SEC Approval
According to Yahoo Finance, the approval of the SEC will be a milestone in the cryptocurrency market, potentially paving the way for substantial institutional capital inflow in the market.
According to Reuters, data released recently showed that in the first quarter of 2024, global venture capital investment in cryptocurrency startups increased to $2.4 billion, suggesting a possible resurgence of investor interest. After approval of spot ETH ETFs, investor interest may be turned up a notch, resulting in a rallying crypto market.
Ether Likely to Gain on Bitcoin’s Growth
After the SEC approved several spot Bitcoin ETFs earlier this year, the price of Bitcoin saw a huge surge that attracted billions of dollars in investments, surging 67% in value. The approval for spot ETH ETF could also see a surge in the value of the digital currency.
Even though a spot ETF has not been approved, Ether has increased by about 59% since the start of 2024. This implies that the digital asset may have additional upward momentum in the event that the SEC renders a positive verdict.
ETFs in Focus
Below, we highlight a few ETFs with heavy exposure to Ether, presenting a chance for investors to bolster their portfolios with the cryptocurrency. These ETFs offer a way to profit from future market moves as the SEC gets ready to take a potentially optimistic stance.
ProShares Ether Strategy ETF (EETH)
ProShares Ether Strategy ETF employs 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%.
ProShares Ether Strategy ETF has gained 24.40% over the past three months and 23% over the past week.
VanEck Ethereum Strategy ETF (EFUT)
VanEck Ethereum Strategy ETF employs 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%.
VanEck Ethereum Strategy ETF has gained 21.56% over the past three months and 18% over the past week.
Bitwise Ethereum Strategy ETF (AETH)
Bitwise Ethereum Strategy ETF employs an active strategy and has amassed an asset base of $12.21 million. The fund charges an annual fee of 0.85% and has a dividend yield of 4.38%.
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
