Co-founder of DACM: Ethereum possesses the attributes necessary for establishing a spot ETF
Ethereum has become one of the biggest beneficiaries in the decision by US regulatory agencies to approve the country's first Bitcoin ETF. As of writing, Ethereum has risen by 9% in the past 24 hours, reaching $2,609 per coin, its highest point in 20 months. Meanwhile, Bitcoin has surged over 160% in the past year and is currently stable at around $46,070. This indicates that traders are betting that an ETF directly investing in Ethereum will be the next product approved by the SEC.
Calvin, co-founder of Sydney-based cryptocurrency asset management company DACM, stated that based on Ethereum's scale, liquidity, and existing CME futures market, it possesses attributes that make establishing a spot ETF using a successful Bitcoin model feasible.
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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