Hong Kong now has Ethereum ETFs, but they are unlikely to approved in the US
HashKey, Bosera Capital, and China Asset Management were among the issuers who got the regulator's nod.
The price of Ethereum is up more than 5% over the past 24 hours, according to CoinGecko data. Bitcoin is up nearly 3%. In January, multiple spot Bitcoin ETFs were approved in the US. BlackRock's product ended up being a record-shattering success story, attracting $10 billion worth of assets in less than two months. , BlackRock's IBIT has now managed to surpass such veterans as iShares MSCI Japan ETF in virtually no time.
Even though BlackRock and other major names have also filed to launch spot Ethereum ETFs last year, the U.S. Securities and Exchange Commission is so far reluctant to approve such products. There has been significant political backlash aimed at preventing the future approval of ETFs linked to other cryptocurrencies. Moreover, the SEC is reportedly working to classify Ethereum as a security. Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
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