0
0
Today in Markets

ETH Joins the Fun

Ethereum braces for some institutional love
0
0
Nov 11, 2023 • 1 min read

Ethereum broke above $2,100 on Thursday after BlackRock, America’s largest asset manager, filed for a spot ETH ETF. Approval of spot ETFs for crypto's top two assets is imminent! Still, bull market gains are not being evenly distributed.

Ethereum already received regulatory clarity as a non-security in early October after the approval of ETH futures ETFs, unlocking a clear path toward approval for a spot ETF. Still, approval hype had until now been focused squarely on Bitcoin.

While Ethereum has lagged behind high-flyers like SOL and LINK over the past month, the arrival of a new narrative could help ETH gain strength against the dollar and other crypto assets.

Thursday’s filing helped to breathe a spark of life back into the ETH/BTC ratio, which has been down only since BlackRock first filed for their spot BTC ETF in June. Theoretically, the filing should place the two assets on more level ground going forward.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

Published in Bankless

There’s a revolution in the world of money. Ethereum, Bitcoin, crypto, open finance, DeFi—a bankless revolution. And you want part of it.

Are you sure you want
to log out?
You'll lose access to your Bankless account until you log back in again. Oh and also, we'll miss you too much! 😢
Cancel
Continue
Account Light mode Log Out