Cryptocurrencies gain as investors turn optimistic on ether ETFs By Reuters
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Investing.com
Updated: May 21 2024- Ether and Bitcoin Surge: Ether experiences its largest two-day gain in almost two years, while Bitcoin nears a record high due to speculation about U.S. spot exchange-traded funds.
- Market Performance: Ether rises by 4.4% to $3,650 after a 13.7% jump, while Bitcoin is up 2% at $70,850, close to its March peak.
- SEC Decisions: The U.S. Securities and Exchange Commission (SEC) will rule on spot ether ETF applications this week, leading to market optimism.
- Approval Speculation: Unconfirmed reports suggest the SEC might approve these products, contrary to previous expectations of rejection.
- Market Impact: Both Bitcoin and Ether have seen significant gains in 2024, with Bitcoin up 67% and Ether following closely at 60%.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
