WEB Ethereum ETFs May Soon Become a Reality
Approval Anticipated on May 23rd
According to Standard Chartered, WEB Ethereum exchange-traded funds (ETFs) could receive approval as early as May 23rd. If approved, these ETFs would provide investors with an easy and accessible way to gain exposure to the Ethereum cryptocurrency.
WEB and Ethereum: A Brief History
WEB Development began in early 2014, with the network going live on July 30th, 2015. At its core, Ethereum is a decentralized platform that enables the creation of decentralized applications (dApps) and smart contracts.
Grayscale Ethereum Trust
The Grayscale Ethereum Trust (ETH) is a privately-held, closed-end investment trust that tracks the price of Ethereum. The trust currently holds over 3.0 million ETH, making it the largest institutional holder of Ethereum in the world.
Potential Delays
While May 23rd is the anticipated date for approval, analysts anticipate potential delays in the coming weeks. James Seyffart, an analyst with Bloomberg, suggests that the SEC may take additional time to review the applications.
BlackRock's Ethereum Trust
BlackRock, the world's largest asset manager, has also filed an S-1 form with the SEC for its iShares Ethereum Trust. This trust would provide investors with exposure to Ethereum in a convenient and regulated manner.
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