The US Securities and Exchange Commission (SEC) approved eight Ether exchange-traded funds (ETFs) this month. ETFs allow investors to participate in Ether trading through traditional stock markets instead of using the cryptocurrency exchange ecosystem. Members of the interested investor community can view ETH ETF listings on Nasdaq, CBOE and the New York Stock Exchange. According to experts, this development is another important decision for the crypto sector as it awaits regulatory approval and approval as a part of the global fintech industry.

The US has approved ETH ETFs for Grayscale, Bitwise, Blackrocks iShares, VanEck, Ark 21Shares, Invesco Galaxy, Fidelity and Franklin.

Ether ETF

For the investor community, the approval of these Ether ETFs in the US has resulted in diversification of investment and liquidity instruments for large and small investors. In addition, this decision has many advantages for the Ether ecosystem, which markets itself alongside Bitcoin as a recognized crypto asset.

Speaking to Gadgets360, Raj Kapoor, Regional Commissioner of the US Securities and Exchange Commission (SEC), highlighted the immediate impact of this development on the crypto industry.

“The main effect will be to increase choice for traditional investors, leading to increased demand and liquidity, which is likely to reduce perceived risks and so attract more institutional investors, which in turn increases trust and legitimacy.” The very malevolent one Part forgives Kapoor.

Mr. Kapoor predicted that the crypto sector’s market capitalization, currently at $2.58 trillion (around Rs. 2,142,718.3 billion), according to CoinMarketCap, will rise in the coming weeks.

The ETH ETF boosted investor sentiment towards cryptocurrencies while sending the price of Ether, the second most valuable cryptocurrency after Bitcoin, on an upward trend. The concept, which aligns with Kapoor’s prediction, was shared with Gadgets360 by Sergey Gurov, chief risk officer of Web3 platform YouHodler in Switzerland.

We expect the all-time price of new ETH to cross $5,000 (approximately Rs. 4.15 million) in the next 12 months. Significant funds have flowed into the digital currency market via the Ether network. Cryptocurrency ETF The cryptocurrency market is expected to surpass the current gold market cap of $16 trillion (approximately Rs. 13,296.88 million, our long-term forecast).

Notably, Ether price action declined by 4% following the ETF approval, mirroring the trend seen following the Bitcoin ETF approval earlier this year. On Monday, May 27, Ether was trading at $3,911 (approximately Rs. 3,240,000 crore) in the currency after gaining 2.54%. Meanwhile, ETH is hovering above the price range of 4,128 (approximately Rs. 3.42 billion) on Indian exchanges.

Ahead of the US presidential election, many senators and asset management firms have expressed a positive outlook for the future of the cryptocurrency sector.