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COINTURK NEWS > Ethereum (ETH) > SEC Approves Bitcoin ETF and Eyes Ethereum ETF Approval
Ethereum (ETH)

SEC Approves Bitcoin ETF and Eyes Ethereum ETF Approval

In Brief

  • SEC approved Bitcoin ETF on January 10, 2024.

  • Ethereum price experienced significant activity after ETF approval rumors.

  • ETH's market cap surpassed $400 billion, trading volume dropped by 28.4%.

COINTURK NEWS
COINTURK NEWS 11 months ago
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In 2023, rumors circulated about when the Bitcoin ETF would be approved, and on January 10, 2024, it received approval. This led to an initial market drop followed by a historic rise. Bitcoin reached its ATH, and ETH surpassed $4,000 for the first time in a long period. Subsequently, attention turned to the spot Ethereum ETF, and as a historic development, the SEC gave its first approval on May 23, with discussions about the approval date for the S-1 documents.

Contents
SEC and Potential Approval Date for Ethereum ETFWhat is the Current Price of Ethereum?

SEC and Potential Approval Date for Ethereum ETF

Recently, SEC Chairman Gary Gensler made an important announcement, stating that everything was on track with the spot Ethereum ETF’s regulatory process.

Eric Balchunas, a renowned ETF expert in the US, frequently mentioned in the approval process of spot ETFs, suggested that the spot Ethereum ETF could start trading in the first week of July.

According to information shared by sources with Reuters a few minutes ago, US regulators could approve spot ETH ETFs to be launched by July 4.

Following this news, all eyes turned to the Ethereum price, which was experiencing significant activity.

What is the Current Price of Ethereum?

Ethereum price became the focus of investors following the news. About 3 hours ago, ETH price dropped from $3,380 to below $3,340 but started rising again before the news and surpassed $3,380.

After the news, the price slightly retracted and continued trading at $3,380 following a 0.28% drop.

During this period, ETH’s market cap rose and surpassed $400 billion, now standing at $407 billion. Additionally, the 24-hour trading volume saw a 28.4% drop, now at $11.2 billion, reflecting a noticeable decline in market interest.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 26 June, 2024 - 11:01 pm 26 June, 2024 - 11:01 pm
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