May 22, 2024
Hot Stocks 🔥

Spot Ethereum ETFs Could Be Approved This Week | Nemo

Name of opportunity: 👀


In the footsteps of Bitcoin: 🪙

In February we saw the first cryptocurrency ETF, when Bitcoin was approved to be traded as an exchange traded fund, which created a lot of buzz. Now, there are signs that Ethereum may be next - it has been reported that US Securities and Exchange Commission have been in touch with stock market indices that have previously filed applications to trade Ethereum ETFs. This is a positive sign that often comes before approval. When this news broke, the value of Ethereum itself - or ‘ether’ as many crypto investors call it - shot up by more than 18%. 

How hot is this investment opportunity? 🔥🔥🔥🔥

If Ethereum is approved to be traded as an ETF, it could be a great opportunity for those who are interested in crypto to get involved. ETFs follow the performance of the asset, meaning that you can buy a share in the ETF without having to own any of the asset yourself - and you stand the chance to profit when the value goes up. 

Ethereum ETFs could rise enormously in value when they first come out, meaning that early investors could stand to make a good profit. The new ETFs will be available on Nemo - but there are already opportunities to profit from Ethereum and other crypto using CFDs (check out our site’s Crypto section to find out more). 

Could spike: 📈

Ethereum is one of the big name cryptocurrencies. It was invented in 2013 and went live in 2015. In 2022, Ethereum reduced the amount of energy the blockchain uses by 99%, making it more appealing to those who had concerns about the high energy use involved in cryptocurrency. 

There is also the chance that the SEC does not approve Ethereum to be traded as an ETF, in which case the value of the cryptocurrency itself might drop - something that any crypto investors who have already bought in should look out for. However, if it is approved, the value of ether could rise even higher than its 2021 record peak (which it is currently 20% below). 

Which neme?: 🔍

‘Ethereum ETF: What's the hype?’

Download Nemo to jump on the Ethereum ETFs as soon as they come out - if the SEC approves them.

Han Tan

Han Tan is a seasoned financial journalist and news presenter renowned for his expertise in global markets. With a career highlighted by interviews with prominent figures and recognition from major media outlets like CNN and Reuters, he delivers insightful analysis on market news and macroeconomic trends to clients and international audiences. Han's sharp commentary on currencies, stocks, and commodities is familiar to viewers of Bloomberg TV Malaysia, BFM 89.9, and NTV7, cementing his sterling reputation in the industry.