SEC Approves Spot Ethereum ETF: ETH Price Dips
![etherum](http://vipkhoone.com/wp-content/uploads/2023/04/etherum.jpg)
In Brief
- The SEC has approved the first-ever Ethereum ETF, marking a major milestone for Ethereum and the crypto industry.
- This approval indicates growing institutional acceptance and allows investors to gain direct exposure to Ethereum.
- Following the news, Ethereum’s price had muted response. It is currently trading around $3,475.
Ethereum has followed in Bitcoin’s footsteps, as the Securities and Exchange Commission (SEC) has approved the first-ever Ethereum exchange-traded funds (ETFs).
This ETF approval marks a significant milestone for Ethereum and the broader digital asset industry, signaling growing institutional acceptance and mainstream integration.
Spot Ethereum ETFs Will Begin Trading On Tuesday
Firms such as 21Shares, Bitwise Asset Management Inc., BlackRock Inc., Invesco Ltd., Franklin Templeton, Fidelity Investments, and VanEck have confirmed that trading of the Spot Ethereum ETFs will commence on Tuesday. Investors can now gain direct exposure to Ethereum through a regulated financial product, potentially driving increased investment and liquidity in the market.
This progress results from persistent efforts to secure Ethereum ETF approvals, a path previously navigated by Bitcoin ETFs. Since January, Bitcoin ETFs have attracted significant investments from both retail and institutional sectors.
Despite these advancements, Ethereum’s market response was surprisingly subdued, with a price drop of 1.32%. This decline immediately followed the announcement, a typical ‘sell-the-news’ effect, where the price briefly dipped to $3,422 before settling at about $3,475. Given the significance of the SEC’s decision, this lukewarm response puzzled many investors and analysts.
Get to know Godleak
Godleak crypto signal is a service which provide profitable crypto and forex signals for trading. Godleak tried to provide you signals of best crypto vip channels in the world.
It means that you don’t need to buy individual crypto signal vip channels that have expensive prices. We bought all for you and provide you the signals with bot on telegram without even a second of delay.
Godleak crypto leak service have multiple advantages in comparision with other services:
- Providing signal of +160 best crypto vip channels in the world
- Using high tech bot to forward signals
- Without even a second of delay
- Joining in +160 separated channels on telegram
- 1 month, 3 months , 6 months and yearly plans
- Also we have trial to test our services before you pay for anything
For joining Godleak and get more information about us only need to follow godleak bot on telegram and can have access to our free vip channels. click on link bellow and press start button to see all features
Join for Free
☟☟☟☟☟
https://t.me/Godleakbot
Also you can check the list of available vip signal channels in the bot. by pressing Channels button.
 
In an interview, Matteo Greco, Research Analyst at Fineqia, discussed that outflows are expected from ETFs initially, adding to selling pressure.
“It’s important to note that Grayscale Ethereum Trust (ETHE), which has been trading for years without redemption options for investors, may experience net outflows similar to those seen with Grayscale Bitcoin Trust (GBTC) when BTC Spot ETFs launched. ETHE will be a separate product from the new Grayscale ETH Spot ETFs (Ethereum Mini Trust), and initial strong outflows from ETHE may offset net inflows to the new products, following the pattern observed with BTC in January,” Greco told.
In related news, Spot On Chain reported a significant transaction by an Ethereum whale – 0xf26. This investor deposited 8,762 ETH (valued at approximately $30.34 million) into Binance.
Previously, this whale had withdrawn 8,763 ETH from Binance at an average price of $3,882, estimating a cost of $34 million. Selling now would result in an estimated loss of $3.67 million, a substantial 10.8% decrease, after nearly two months.