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SEC Approves Spot Ether ETFs on May 24, Ethereum Rallies 26%
May 29, 2024, 03:16 PM
The U.S. Securities and Exchange Commission (SEC) has approved spot Ether ETFs on May 24, marking a significant milestone for the cryptocurrency market. This decision, following the approval of Bitcoin ETFs less than six months ago, is expected to boost mainstream adoption, liquidity, and investor confidence in Ethereum. The approval, announced on Thursday, has already had a notable impact, with Ethereum rallying 26% last week, its largest gain since the 2021 crypto bull market. The move also holds significant implications for firms involved in tokenizing assets that trade on-chain.
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