Let’s examine the insights shared by our Technical Analyst at UseTheBitcoin as he walks us through his personal trading approach and observations on the second-largest crypto by market cap.
SEC Ends Investigation Into Ethereum
In a significant development for the cryptocurrency community, the US Securities and Exchange Commission (SEC) has permanently concluded its investigation into Ethereum.
According to a recent announcement from Consensys through the social media platform X, the US SEC has wrapped up its investigation into Ethereum and will no longer pursue legal action claiming that ETH sales are securities transactions.
This means that selling ETH is not considered a securities transaction, providing reassurance to developers and users of Ethereum.
ETH ETF Trading To Commence Soon
Additionally, Ethereum Exchange-Traded Funds (ETFs) are potentially set to be approved and begin trading within the next two weeks around July 2nd, according to Bloomberg ETF analyst Eric Balchunas. These ETFs will enable investors to gain exposure to Ethereum without the need to directly purchase and store the cryptocurrency.
This development is anticipated to attract a broader range of investors, including institutional entities, potentially enhancing Ethereum’s stability and growth.
Final Thoughts
Overall, the conclusion of the SEC’s investigation and the imminent launch of ETH spot ETFs represent significant milestones for Ethereum, facilitating easier and safer investment in this prominent digital currency.
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