This week, the news is marked by an unprecedented enthusiasm from the giants of American finance for Ether-linked ETFs (Exchange-Traded Funds). After the frenzy of requests forBitcoin ETF with the SECthese are now the ETH ETFs which are at the center of all attention, with more than a dozen requests filed with the Security and Exchange Commission this Friday.
ProShares and Bitwise join the ETH ETF dance
Of the companies that filed applications for Bitcoin ETFs, ProShares And Bitwise also got into the ETH ETF race by filing SEC filings in the US. These exchange-traded funds would give investors exposure to Ether, the second-largest cryptocurrency in the market by capitalization.
ProShares thus demonstrates its interest in Web 3.0, since it had already filed an application with the SEC for an ETF on the metaverse.
As for Bitwise, it does not do things by halves, as it has filed a request for a dual ETF, involving both Bitcoin and Ether, as reported by our colleagues at Bloomberg. This brings the number of ETH ETF requests to a dozen.
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Institutional Excitement for Cryptocurrencies
The enthusiasm of the actors institutions for cryptocurrencies in the United States is far from trivial and demonstrates a slow but growing adoption of these digital assets. This rush for ETH ETFs is a clear sign of the growing interest of traditional players in cryptocurrencies as an asset class.
However, despite this effervescence, the long-awaited response from the SEC concerning ETFs, and the classification of cryptocurrencies remains outstanding.
Finally, note that ETFs (Exchange Traded Funds) are financial products that allow investors to diversify their portfolio by having exposure to a specific underlying asset, such as bitcoin or ether here. They are increasingly popular because they offer a simplified and regulated approach to investing in digital assets such as Bitcoin and Ethereum and have already conquered Europe, in particular the Holland stock exchange.
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