-- Crypto markets are increasingly optimistic about regulatory approval for US exchange-traded funds investing directly in Ether amid a flurry of activity at potential issuers, exchanges and the securities regulator.Hims Debuts $199 Weight-Loss Shots at 85% Discount to Wegovy
Among other things, the issuer said it will keep the Ether it buys out of programs that pay rewards for blockchain maintenance — known as staking in the industry’s jargon — and that it will not invest in derivatives. “We expect significant ETF-driven inflows to ETH, as has been the case with BTC ETFs since their approval,” Standard Chartered analyst Geoff Kendrick wrote in a recent note. Kendrick estimated that the spot-Ether ETFs can lead to inflows of about $15 billion to $45 billion in the first 12 months after approval.
The fund’s discount to its underlying Ether holdings has narrowed to less than 7% from Friday’s 20.5% and as much as 56% last year, data compiled by Bloomberg show. A similar pattern was seen in January before the SEC approved the conversion of Grayscale’s Bitcoin Trust, which is now trading on par with its underlying asset.
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