NYSE Arca Affirms Readiness for Spot Ethereum ETF Trading

The New York Stock Exchange (NYSE) Arca to list and trade the Grayscale and Bitwise spot Ethereum ETF offerings. This comes as the investment issuers and exchanges await the final verdict from the Commission. 

Grayscale and Bitwise ETFs to Commence Soon 

In a filing submitted to the SEC earlier today, the exchange NYSE Arca officially agreed to list and register the Grayscale Ethereum Trust (ETH) units. Subsequently, under the Exchange Act of 1934, another document was submitted giving a thumbs up for Bitwise Ethereum ETF as well. 

This update follows the announcement made by the Chicago Board Option Exchange (Cboe) on July 20.

The exchange revealed that five Ethereum ETF products, out of the eight digital assets approved initially, will be traded on its platform. Clearly, investment issuers are gearing up for the launch of these digital products. They are set for their registration statements to become active so they can get these digital products up and running.

Senior ETF Analyst at Bloomberg, Eric Balchunas’ prediction sets the crypto community abuzz. He hinted that it is likely the SEC will approve the S-1 documents on Monday. If that happens, the long-anticipated ETFs commence on Tuesday.

Ethereum Enthusiasts Unwavering Sentiment 

The buzz about the Ethereum ETF in the crypto community is not only for the immediate launch. Market watchers, analysts and the crypto community at large are optimistic that these digital products could potentially boost Ethereum’s market value and significance.

Bullish predictions from market experts like Matt Hougan has kept the crypto community’s positive sentiments going. This is in spite of naysayers like Peter Schiff attempting to undermine their confidence in the industry. Surprisingly, the unwavering belief and positive outlook seem to overshadow any pessimistic views as the digital asset printed recovery lately. This was influenced by global institutional investments recording consistent inflows for three weeks.

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