Ethereum

The flag of ETH is raised over Wall Street

It happened: Ethereum ETFs are officially trading in the US💥

Why it matters:💡

People can now buy Ethereum through traditional brokerage accounts. 

The approval of Ethereum ETFs signals a maturing regulatory landscape for cryptocurrencies. 

It could classify ETH as a commodity, NOT a security.🤯

And the SEC surrenders to a more powerful regulator...

By the numbers:📈

U.S. spot ether ETFs debuted with $1.07B in trades, led by Grayscale's Ethereum Trust at $450M, but fell short of the $4.6B seen in bitcoin ETFs in January.

Matt Hougan, Bitwise Chief Investment Officer: 

"Ether ETFs could drive ether prices to a record above $5,000. The new ETFs will garner up to $15B in new assets over 18 months."

Devil’s Advocate: 😈

If ETF providers start accumulating large amounts of ETH, it could affect DeFi liquidity and functionality. 

This may also lead to concerns about centralization and control over the network.

What's your take?