SEC Approves Spot Ethereum ETF: ETH Price Dips
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The SEC has approved the first-ever Ethereum ETFs, marking a significant milestone for Ethereum and the broader digital asset industry. Key firms like 21Shares, Bitwise, BlackRock, Invesco, Franklin Templeton, Fidelity, and VanEck confirmed trading will start on Tuesday. However, Ethereum’s price dipped by 1.32% following the announcement, puzzling many investors. Analyst Matteo Greco mentioned that initial outflows from ETFs could add to the selling pressure. A noted Ethereum whale also made a significant transaction, depositing 8,762 ETH into Binance, potentially selling at a loss.
Source: beincrypto.com ↗
