tl;dr
The recent approval of spot Bitcoin exchange-traded funds (ETFs) by the SEC has sparked speculation about the potential approval of Ethereum ETFs. US Congressman Michael Collins reportedly purchased Ethereum, and there is a growing interest in Ethereum as a potential investment option. However, the ...
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The recent approval of spot Bitcoin exchange-traded funds (ETFs) by the SEC has sparked speculation about the potential approval of Ethereum ETFs. US Congressman Michael Collins reportedly purchased Ethereum, and there is a growing interest in Ethereum as a potential investment option. However, the debut of Ethereum Futures ETFs did not meet expectations, indicating that the demand for Ethereum ETFs may not be as high as for Bitcoin ETFs. Analysts believe that Ethereum offers a broader technology bet and yields, making it attractive for institutional investors. Mainstream media has been abuzz with discussions about the cryptocurrency industry, particularly the ongoing speculation surrounding the approval of spot Bitcoin exchange-traded funds (ETFs). \
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On January 10, the United States Securities and Exchange Commission (SEC) greenlit 11 applications, now turning speculation towards Ethereum (ETH). Is the upcoming Bitcoin halving and regulatory climate encouraging a US Congressman to acquire Ethereum? According to a report from X account Insider Tracker, which monitors stocks of CEOs, executives, and congress members, Michael Collins, the US Representative for Georgia, has reportedly conducted two transactions for Ethereum purchases in the last two weeks. Given that the spot Bitcoin ETFs have just been approved by the SEC, many eyes are looking towards Ethereum in hopes that the Ethereum ETFs may also have a shot at being approved in 2024. On January 9, BeInCrypto reported on crypto investor ‘DCInvestor,’ telling his 235,000 followers that Ethereum “will do better and retain more value after this cycle than the vast majority of assets.” He added that Ethereum already has futures-based ETFs, so a spot fund will likely be approved in the United States next. There have also been reports of other government officials purchasing crypto recently, further fueling the interest in Ethereum. \
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