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ETH ETFs Begin Trading! | Web3 Daily

Altszn.com by Altszn.com
July 23, 2024
in Web3
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ETH ETFs Begin Trading! | Web3 Daily
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TL;DR

Full Story

We touched on it in article one this morning, but it deserves more attention.

ETH ETFs are starting to trade in the US today!

After getting their initial approval in May, multiple companies in the past few weeks have updated and updated their forms – riveting job – to finally be approved and ready for trade.

Here’s how we’re looking at it:

Bitcoin ETFs have brought in more than $17 billion worth of total inflows since their launch so far – that’s our baseline metric.

Anything above that within the first 6 months would be huge for crypto.

Some people believe there’ll be less demand for the ETH ETFs than the BTC ETFs, simply because ETH is an altcoin – that theory will be tested!

Finally, for better or worse, Ethereum is a very different technology to Bitcoin.

For example, an important part of Ethereum is the ability to stake your crypto and get interest (aka ‘staking rewards’) for doing so.

Due to regulation, the ETH ETFs are not allowed to stake their ETH holdings.

So, unlike BTC, which is primarily a financial product (besides Ordinals and Runes etc., but hear us out) for the first time, we’ll get to see whether people really do want to hold ETH in the form of shares (through the ETFs), or whether investors choose to get a bit more savvy on what Ethereum really is, and they start taking advantage of things like staking.

Either way, ETH ETFs becoming tradable on US stock markets brings them front of mind for investors, and will undoubtedly lead to additional buying that otherwise wouldn’t have happened.

Magic eight ball says: Outlook good!



Read More: www.web3daily.co

Tags: dailyETFsETHTradingweb 3.0Web3
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    • bitcoinBitcoin (BTC) $ 107,484.00
    • ethereumEthereum (ETH) $ 2,518.45
    • tetherTether (USDT) $ 1.00
    • xrpXRP (XRP) $ 2.30
    • bnbBNB (BNB) $ 665.42
    • solanaSolana (SOL) $ 171.73
    • usd-coinUSDC (USDC) $ 0.999782
    • dogecoinDogecoin (DOGE) $ 0.219539
    • cardanoCardano (ADA) $ 0.747383
    • tronTRON (TRX) $ 0.271286
    • staked-etherLido Staked Ether (STETH) $ 2,516.04
    • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 107,305.00
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    • wrapped-stethWrapped stETH (WSTETH) $ 3,027.75
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    • ondo-financeOndo (ONDO) $ 0.917109
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