Ethereum ETF Gets Major Boost With New York Stock Exchange Approval (2024)

As just became known, the New York Stock Exchange (NYSE) has officially approved the listing of a spot Ethereum ETF from Bitwise. Trading for an ETF on crypto markets' major altcoin is scheduled to commence on Tuesday, July 23.

However, the U.S. Securities and Exchange Commission (SEC) has yet to provide its official approval.

In a related update, the NYSE has given the green light to another spotEthereum ETF, this one from Grayscale. Documentation confirming this approval has been made available.

Today?

Bloomberg analyst James Seyffart has indicated that the SEC may grant approval for these spot Ethereum ETFs as early as today. He anticipates that numerous documents related to the ETF prospectuses will be posted on the SEC's website shortly.

As of the latest reports,Ethereum (ETH) is trading at approximately $3,493.28, experiencing a minor decline of around 2% over the past 24 hours. Despite this dip, trading volume has surged by 100% in the same period, reaching $19.94 billion. The market capitalization ofEthereum stands at $416 billion.

This move by the NYSE is seen as a substantial boost for Ethereum-related investment products and could pave the way for an imminent decision by the SEC. Investors and industry watchers will be closely monitoring the forthcoming decisions and the subsequent impact on Ethereum's market dynamics.