Today, the United States Securities and Exchange Commission(SEC) has approved the 19b-4 fillings on eight Ethereum Exchange-Traded Funds (ETFs). This opens the door to the much anticipated adoption by institutions of Ethereum’s second highest value coin.
This decision is a result of months’ uncertainty. It also comes less than six-months after the regulator first approved Bitcoin ETFs. This week was uncharacteristically strange for the cryptocurrency community. “scrambled” Spot ETF Issuers are urged to amend their application.
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MicroStrategy Made A Mistake by Choosing Bitcoin Instead of Ethereum
Ethereum spot ETFs are likely to be released in 2019. next In the last few weeks one analyst at X-now thinks Michael Saylor chose Bitcoin rather than Ethereum, and missed out on a lot of rewards. MicroStrategy – a US public company and a leading business intelligence company – has steadily increased its BTC stock since May 24.
The following is a list of Bitcoin TreasuriesMicroStrategy was the company with the most BTC at time of publication, 214.400 BTC.
Analysts are now proposing a hypothetical case, after the United States SEC announced that spot Ethereum ETFs would be available. MicroStrategy’s holding, if they had selected ETH instead of BTC at the spot rate would be worth more than $19 billion.
At this level, MicroStrategy’s value would have risen to over $4 billion. If the firm chose to purchase and not hold, but stakeTheir total holdings are worth more than $20.9 billion by the end of 2024.
The ETH trading at a huge discount: will it replicate BTC’s success?
After the trading and approval of Bitcoin spot ETFs it is apparent that Ethereum spot prices are likely to be undervalued. BTC surged after a short dip mid-January. Ethereum reached a peak of $4,100. The world’s largest coin, however, soared past $70,000 to reach all-time records of around $74,000.
Eight ETFs issue 19b-4 form. BlackRock The only obstacle left is to approve the S-1 registration statement. It is possible that there will be some delays. The United States SEC has given the green light for spot Ethereum ETF to begin trading.
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It is still important to remember that the issuers of spot Ethereum ETFs will only hold Ethereum via a custodian who has been regulated. stake.
Chart from TradingView, with a feature image by DALLE
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Source: www.newsbtc.com