Ether introduced crypto to retail in 2017, spot ETH ETFs have all chances to do same, investor says
Besides the obvious paramount importance for institutions, the approval of spot ETFs on major cryptocurrencies might bring a new cohort of retail investors to Web3, the top investor says. He draws parallels to the 2017 crypto run that introduced blockchain assets to the majority of modern cryptocurrency enthusiasts.
More than 70% of spot BTC ETF are held by retail, and when I was retail the first crypto I bought was ETH. Lots of normie like XRP because of the fintech narrative as well. Most 2017 cohort joined crypto because of Ethereum as well.Solana Plummets 10%, Here's Why, Ethereum ETF Effect: Will It Kick In? Cardano Brand New Support LevelHe recalls the 2017 situation when"normies" were attracted to cryptocurrency by the amazing narratives of Ethereum and XRP.
While the technology and Ethereum itself witnessed significant changes in the last seven years, its status remains undisputed for the entire Web3 scene: Cant imagine retail wont get excited by ETH; the decentralized technology layer powering Web 3.0 economyHis followers echoed such a position, adding that the operators of potential Ethereum spot ETFs will do their utmost to aggressively promote the new products amid the retail audience.As U.Today previously reported, on May 23, 2024, the U.S. SEC approved 19b-4s requests for Ether ETFs' launch. The most crucial S-1s forms are yet to be authorized by the regulator.
Immediately post-approval, the Ethereum price dropped from $3,830 to $3,670. As of printing time, Ether is changing hands at $3,743 on major spot exchanges.Caldera launches Guardian Nodes, creating a new path for teams to raise funds and decentralize their network
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ethereum bulls await ETF approval as BlackRock, Bitwise, Grayscale submit amended ETH ETF filingsEthereum (ETH) is trading sideways on Wednesday as BlackRock, Bitwise and Grayscale submitted their amended 19b-4s filings to the Securities & Exchange Commission (SEC).
Read more »
US ETH ETF approval pressures Korean regulatorsKorean regulators are pressured to approve cryptocurrency ETFs following the U.S. SEC’s approval of Ethereum ETFs. The move is expected to bridge the gap between traditional finance and digital assets, with experts warning of potential investor flight to U.S. markets if Seoul fails to act.
Read more »
Coinbase files fresh reply in legal battle with SEC after ETH ETF and FIT21 approvalCoinbase (COIN) issued a response on Friday to its initial interlocutory appeal for answers regarding securities question in battle that has lingered with the Securities & Exchange Commission (SEC).
Read more »
ETH sees modest gains following Ethereum ETF approvals, notes $80 million in long liquidationsThe trend suggests that spot Ethereum ETF optimism is continuing to buoy ether, which defied the broader crypto market downturn yesterday.
Read more »
Ethereum's lackluster performance has little to do with spot ETH ETF approvalEthereum price failed to moon after the spot ETH ETF approvals. Cointelegraph explains why.
Read more »
3 Questions About the SEC’s Abrupt ETH ETF ApprovalDaniel Kuhn is a deputy managing editor for Consensus Magazine. He owns minor amounts of BTC and ETH.
Read more »