Despite Vanguard’s ban on crypto ETFs, which prevents their 50 million customers from accessing these funds, the newly launched investment products are thriving without the company.
The NYSE President stated that the successful launch of the spot Bitcoin ETFs in the US has already validated the demand for crypto products. She added that NYSE would wait for clear regulatory guidelines before venturing in this market.
As the regulatory process continues, market participants eagerly await the potential launch of Ethereum-linked financial products.
Eric Balchunas, a Bloomberg ETF analyst, is optimistic about BlackRock’s amended S-1 filing, considering it a positive sign for the future launch of Ethereum ETFs.
The approval for the leveraged Ether ETF could potentially facilitate the eventual approval of spot ether ETFs, said Volatility Shares CEO.
The high sponsor fee for Grayscale’s GBTC has pushed investors away to other more liquid and favorable similar Bitcoin products such as IBIT, and FBTC.
Many crypto enthusiasts expected that trading of the spot Ethereum ETF should follow its launch immediately, as it was with Bitcoin ETFs.
All of the spot Bitcoin ETFs globally collectively hold 1,002,343 BTC, or 5.08% of the current circulating supply of coins, which is 19,704,484.
Similar to GBTC, the Grayscale Ethereum Trust (ETHE) could also see massive outflows in the beginning since its currently trading at 26% discount to the NAV.
Standard chartered executive stated that similar to Ethereum, other altcoins previously under the SEC scrutiny, such as the XRP case, could also be absolved of the ‘security’ status.
According to a prospective crypto ETP issuer, the recent departures have presented challenges in obtaining clear feedback from LSE on technical matters related to their applications.
Xangle, a Seoul-based crypto data provider, argues that the Korean regulations stop efforts to restore the Korean stock market and address the “Korea Discount”, in which Korean stocks trade at lower valuations than their global peers.
The Solana (SOL) network is a thriving Web3 ecosystem, with nearly $5B in TVL, bolstered by institutional investors and retail traders.
ETF analyst James Seyffart noted that while the 19b-4 filings have been approved, the funds still need to pass another scrutiny stage for the S-1 documents to be reviewed.
Soon after the 19b-4 approval by the US SEC, VanEck Investments swung into action by releasing a 37-second advertisement swaying viewers to “Enter the ether”.