DACM Lianchuang: Ethereum has the feasibility of establishing spot ETFs
Ethereum became one of the biggest beneficiaries in the decision by US regulators to approve the country's first Bitcoin ETF. As of the time of writing, Ethereum has risen by 9% in the past 24 hours to reach $2,609 per coin, its highest point in 20 months. Meanwhile, Bitcoin has skyrocketed by over 160% in the past year and is currently trading at around $46,070, indicating that traders are betting that the next product approved by the SEC will be an ETF for direct investment in Ethereum. Calvin, co-founder of Sydney-based cryptocurrency asset management company DACM, said that based on Ethereum's scale, liquidity, and existing CME futures, it has the attributes to establish a spot ETF using the successful Bitcoin model.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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