could get approved by mid-July of this year.
Ethereum is a decentralized blockchain platform. Through this digital platform users can access and use Ether as it is the native cryptocurrency of the program. Ether is the second-largest cryptocurrency in the world, which, like Bitcoin means that is an independent type of currency, different from the normal currency used in our daily lives.
Unlike classic currency, cryptocurrency is a form of digital asset that can be accessed and controlled through keys generated by computers. Unlike Bitcoin, the creation of Ether is unlimited, but the process of creation is the same. These digital assets are created in a mining process that takes a lot of computer capacity.
ETF (Exchange-traded fund) is an instrument used to make investments easier, whether in stocks, real estate, companies, and also cryptocurrency. Based on the Bitcoin experience, the upcoming Ether ETFs are expected to have a bigger effect on the cryptocurrency. In March, Bitcoin reached a new high of $73,803.25, just two months after the launch of the ETFs. At the same time, Ether’s trading strategies reached $4,093.7.
From the launch of Bitcoin ETF until last month, Bitcoin has drawn roughly 38 billion dollars. An increase is expected in Ether cryptocurrency too, but it is known that these digital assets will attract a different amount of investors interested. Because it is not that known as Bitcoin being lower in the world’s cryptocurrency ranking, Ether will most likely attract fewer investors.
The cryptocurrency graveyards are full of people interested in trading strategies. Each enthusiast is eager to predict what is about to happen with the launch of Ether ETF, but the researchers specialized in digital assets painted the picture.
Trading strategies begin to form and researchers study and predict the phenomenon that is about to happen soon. Grayscale Investments, a cryptocurrency asset manager, estimates a demand increase of up to 30%. This prediction was made with Bitcoin’s journey, but considering that the capital of Ether is as high as Bitcoin, there could be a price impact.
Besides the price impact, the new Ether ETF is expected to boost the awareness of the cryptocurrency, but more importantly, of the mother company, Ethereum.
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