Ethereum spot ETFs win a big approval

  Ethereum Spot ETFs Win a Big Approval Dear reader, Another day, another milestone in the crypto world… U.S regulators have approved applications for spot Ethereum (ETH-USD) exchange-traded funds (ETFs). This is the second crypto available to be traded via ETFs for the average investor. Bitcoin (BTC-USD) ETFs began trading in January. These ETFs will give investors access to Ethereum in traditional brokerage or retirement accounts with the click of a button. It was widely assumed that the approval was inevitable. However, it could still spark a buying frenzy similar to what we saw following the Bitcoin ETF approval in January. Since then, Bitcoin ETFs have net inflows of $17 billion. Ethereum is up since the news broke, and it’s one of the top performers within the top 100 coins. But the crypto’s 85% gain over the past year is still lagging Bitcoin’s 128% increase. Bitcoin remains the most popular crypto available today. Its market valuation is about three times greater than Ethereum’s. So I don’t expect inflows to be as impressive as the Bitcoin ETFs’. However, a portion of the investing population has been waiting for this approval. And I’d bet they won’t hesitate to dive in. Another potential positive for Ethereum is that it’s very different from Bitcoin – even though it’s the second-largest coin in the market. Whereas Bitcoin is a store of value due to its limited supply of 21 million coins, Ethereum is the “guts” of the crypto world. It provides more utility and should be viewed as the software giant of the asset class. Ethereum is a smart contract platform that runs on the blockchain. Its use cases could be considered endless. And it has the ability to become the platform that new technologies are built on. In other words, Bitcoin and Ethereum complement each other as investments. In fact, owning both in a crypto portfolio helps diversify it. Back when I owned my investment advisory, many clients would ask about gaining exposure to the top two cryptos. At the time, their only option was to use a crypto exchange such as Coinbase. But the fact that these coins can now be purchased via a normal investment account is a game-changer. And I anticipate Ethereum will get a longer-term boost from new money as a result. Don’t expect a big rally right off the bat, though. As I mentioned before, the approval was expected. But it will still take time for big investment advisors to get their clients into these new funds. At the end of the day, this approval is a huge positive for the long-term viability of cryptos. I expect it will open the door for even more spot crypto ETFs in the future. My opinion is that Solana (SOL-USD) – currently the fifth-largest coin – will be the next ETF approval in the coming year. As always, I’ll keep you updated on any progress. Here’s to the future, [McCall's Signature] Matt McCall Editor, Market Insights [Check Out My Latest Podcast]( The healthcare industry as we know it today will be unrecognizable a decade from now. Several technological breakthroughs are coming together to upend one of the largest industries in the world. And one of the biggest culprits is artificial intelligence (AI). On the [latest episode of the SteadyTrade Podcast]( Tim Bohen and I dive into some of the biggest implications that AI will have on the future of the healthcare industry. We share where the opportunities lie today. And most importantly, we give you the names of several small companies that should be added to your watch list. [Check out the podcast to learn more.](   © 2024 Centurion Publishing 13809 Research Blvd, Suite 500, Austin, TX 78750   *Results are not typical. Past performance does not indicate future results. All investing carries risk. Our Privacy Policy, along with our Term & Conditions, governs your use of this site. By using our site, or by accepting the Terms of Use (via opt-in, checkbox, pop-up, or clicking an email link confirming the same), you agree to be bound by our Terms & Conditions and our Privacy Policy. If you have provided personal, billing, or other voluntarily provided information, you may access, review, and make changes to it via instructions found on the Website or by replying to this email. To manage your receipt of marketing and non-transactional communications, you may unsubscribe by clicking the “unsubscribe” link located on the bottom of any marketing email. Emails related to the purchase or delivery of orders are provided automatically – Customers are not able to opt out of transactional emails. We will try to accommodate any requests related to the management of Personal Information in a timely manner. However, it is not always possible to completely remove or modify information in our databases (for example, if we have a legal obligation to keep it for certain timeframes, for example).If you have any questions, simply reply to this email or visit our website [( view our official policies. To Unsubscribe [Click Here](