tl;dr
The SEC has informed issuers of ETH exchange traded-funds that trading can commence on July 23. The SEC provided no further comments on recently submitted S-1s, with final versions due by Wednesday. ETH outperformed BTC on Monday following the news of potential ETF trading approval. Once live, spot ...
Prospective issuers of a spot ether (ETH) exchange-traded fund (ETF) were informed by the Securities and Exchange Commission (SEC) that the funds can begin trading on July 23, according to sources. The SEC had no further comments on the recently submitted S-1s, with final versions required to be submitted by Wednesday. ETH outperformed BTC on Monday, potentially due to the news of potential ETF trading approval.
Once live, spot ether ETFs could see inflows of up to $5 billion in the first six months, with some predicting up to $20 billion in the first year. The price of ether rose 7.3% on Monday, surpassing bitcoin's 6% gain.
ETH exchange traded-funds issuers were told by the SEC that funds can start trading on July 23, as per sources. The SEC had no further comments on the recently submitted S-1s, and the final versions need to be submitted by Wednesday. ETH outperformed BTC on Monday, potentially due to ETF trading approval.
Once live on the market, the spot ether ETFs could see inflows of up to $5 billion in the first six months, as predicted by crypto exchange Gemini. Steno Research expects inflows of up to $20 billion in the first year. The price of ether rose 7.3% on Monday in response to the news of ETFs starting to trade next week, outpacing bitcoin's 6% gain. The broader market index CoinDesk 20 climbed 5.6% on the same day.
Nik De also contributed to the reporting of this story. Read more: Ether Spot ETFs to See Up to $5B of Net Inflows in First Six Months: Gemini
More about BlackRock Inc
BlackRock Inc Stock Analysis
BlackRock, Inc. is currently trading in the range of $20.10 to $39.33.
The stock's 52-week high is at $123.09, with a 52-week low of $21.05.
The trading volume is at 18,343,999, with a market capitalization of $123,036,336,000.
The Relative Strength Index (RSI) is at 37.2, indicating a neutral position.
The stock has a 0.323 beta, suggesting a moderate correlation with the market.
BlackRock, Inc. has a support level at $20.10 and a resistance level at $39.33.
Based on the data, the stock is currently in a neutral position with potential for a breakout in either direction.