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When the calendars showed the year 2023, comments began to be made worldwide that there should be a Bitcoin ETF. For institutional investors who did not want to take risks, this situation could be achieved with GBTC, but it was still not as widespread as an ETF. This process was voiced more loudly, and by January 2024, everything had taken a completely different turn. At this point, the spot Bitcoin ETF was approved, and the largest single-day entry in the history of ETFs occurred. Although the BTC price fell when the ETF was approved, it later reached an ATH in March. Following this process, it was seen that spot Ethereum ETFs started trading last month.
SEC Says Stop to Hashdex for Now
When it comes to crypto ETFs, it became known that the SEC extended the process as much as possible to the last day. Especially with the Ethereum ETF, the SEC really left this approval to the last day, and there was an expectation that it would not be approved before the last week.
Subsequently, with the start of Ethereum ETFs trading, excitement in the market increased, but on the Ethereum side, investors did not find what they expected due to the massive impact of the decline in the Japanese economy, and prices were seen to plummet. While all this was happening, an important decision emerged regarding an application made in the past period.
According to the announcement, the SEC postponed its decision on Hashdex’s ETF proposal, which would include Bitcoin and Ethereum. Given the SEC’s stance on ETFs, it would not be quite right to say that the situation was surprising. Still, it seems that how it might affect the market in the future will continue to be closely monitored.
How Much is Bitcoin?
In the market today, at the opening of Wall Street, it was seen that the Bitcoin price fell back to $60,000, but later there was a recovery, and as of the time of writing, the price is seen to find buyers at the $60,200 level.
When we look at the Ethereum price, Ethereum, which hovered around $2,600 throughout the day, is trading at the $2,591 region after a 0.24% increase.
