Ethereum Might Be Next In Launching ETF
This week was marked with the launch of the first ever bitcoin-backed ETF futures, and it was very successful, bringing in $1 billion in trading volume.
Since then, the market if facing another wave of speculation of what comes next-ethereum, a spot-based bitcoin or something different?
Analysts are now predicting, the Ethereum should be the next crypto to launch an exchange-traded fund, backed by it. Ethereum is traded on the regulated by SEC (Securities and Exchange Comission) the Chicago Mercantile Exchange, same as bitcoin. Also, it was confirmed that two major ETF providers have previously asked regulators to approve ethereum-backed ETF’s with the SEC, but later had to withdraw their applications. But it is likely they will make another attempt.
“Going to start the campaign now for the SEC to approve an Ethereum ETF. Might as well get ahead of the crowd, because it's coming eventually,” the popular crypto trader Scott Melker, also known as The Wolf Of All Stree
