Ethereum HODLers Scoop 298,000 ETH In 24 Ahead Of Spot ETF Trading

Quick Summary:

Appearing in a senate hearing, Gensler said the spot Ethereum exchange-traded fund (ETF), whose 194-b forms were approved in May, may begin trading at a tentative time in summer.

Related Reading: Solana Empty Glasses: BEER Coin Fizzles 70% In Alleged Rug Pull Also, considering the amount of ETH scooped from the markets, it could signal that institutions, possibly hedge funds or billionaires, are beginning to position themselves in the market.

Spot ETFs To Begin Trading This Summer: Gensler Whether prices will recover from current levels or slip towards $3,300 remains to be seen.

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Article Details

Author / Journalist: Dalmas Ngetich

Category: Crypto

Markets: United KingdomKenyaUnited States

Topics: ETHUSDT Eth price Ethereum price Spot Bitcoin ETFs Spot Ethereum ETFs Ethereum Bitcoin United States SEC Ethereum

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-14 @ 21:00:59 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 421 words

Reading Time: 3 minutes read

Sentences: 72 lines

Sentence Length: 6 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 21256584

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