Crypto ETFs Buzz on Ether Approval Hopes

Investors have become increasingly optimistic about the SEC approving spot ether exchange-traded fund applications. This renewed optimism has propelled the cryptocurrency to new highs, with Ether (ETH) rising nearly 20% on Monday and Tuesday.

The odds of the SEC approving spot ETH ETFs jumped to 75% from the previously expected 20%, boosting investor confidence, Bloomberg analysts Eric Balchunas and James Seyffart reported on Yahoo Finance.

Crypto Market Will Increase With SEC Approval

According to Yahoo Finance, the SEC’s approval will be a turning point in the cryptocurrency market, potentially paving the way for significant institutional capital inflows into the market.

According to Reuters, recently released data showed that global venture capital investment in cryptocurrency startups rose to $2.4 billion in the first quarter of 2024, signaling a resurgence of investor interest. Following the approval of spot ETH ETFs, investor interest may increase slightly, which could lead to a rebound in the crypto market.

Ether Will Likely Benefit from Bitcoin’s Growth

After the SEC approved several spot Bitcoin ETFs earlier this year, Bitcoin’s price saw a massive surge that attracted billions of dollars in investment, rising in value by 67%. The approval of the Spot ETH ETF could also lead to an increase in the value of the digital currency.

Although a spot ETF has not been approved, Ether is up nearly 59% since the beginning of 2024. This means that the digital asset could have additional bullish momentum if the SEC makes a positive decision.

ETFs in focus

Below, we highlight several ETFs with heavy exposure to Ether that offer investors the chance to bolster their portfolios with the cryptocurrency. These ETFs offer a way to profit from future market movements as the SEC prepares to take a potentially optimistic stance.

ProShares Ether Strategy ETF (EETH)

ProShares Ether Strategy ETF uses an active strategy and has amassed an asset base of $79.07 million. The fund’s annual fee is 0.95% and its dividend yield is 4.66%.

ProShares Ether Strategy ETF is up 24.40% in the last three months and 23% last week.

VanEck Ethereum Strategy ETF (EFUT)

VanEck Ethereum Strategy ETF uses an active strategy and has amassed an asset base of $28.81 million. The annual fee of the fund is 0.66% and the dividend yield is 4.30%.

VanEck Ethereum Strategy ETF is up 21.56% in the last three months and 18% in the past week.

Bitsel Ethereum Strategy ETF (AETH)

Bitwise Ethereum Strategy ETF uses an active strategy and has an asset base of $12.21 million. The annual fee of the fund is 0.85% and the dividend yield is 4.38%.

The story continues

Bitwise Ethereum Strategy ETF is up 22.49% in the last three months and 24% last 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

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