The Chairman of the US Securities and Exchange Commission (SEC), Gary Gensler, is in the headlines after his recent interview at Bloomberg Invest Summit 2024. While he discussed many topics about securities and crypto regulatory laws, the main traction for the crypto community is his comments about Ethereum spot ETF.
Ethereum Not a Security – Potential Impact on Ethereum Spot ETF
The chairman Gary Gensler in his interview discussed that the approval of Ethereum spot ETF is a result of rigorous scrutiny of the proposition by all holding firms. According to Gary Gensler, partially approved products would be classified similarly to the bitcoin ETFs, indicating that ETH can be a commodity.
With Ethereum being a commodity, it can significantly impact the anticipated launch of Ethereum Spot ETF. With mounting optimism for Ethereum products like Ethereum Spot ETF, the lack of regulatory hurdles can massively grow the ETF market by making it easy for institutions and retail investors to participate.
ETH Price Set to Retest $4000 Threshold Amid ETF Hype
As industry leaders like Matt Hougan expect $15 billion in net inflows for Ethereum spot ETF within two years after its launch, ETH price is set to witness massive upside momentum. ETH price stands at $3,360 after a 5% decline on the weekly chart. While the market is bearish ETH price is pushing limits after successfully defending the $3,269 support level.
Charts indicate that bearish trends will persist for a while amid broader market fluctuations. Even if the ETH price defends key support levels, it will move sideways for the next few days. As the selling pressures are slowing, a pullback above $4000 is expected due to increased investor confidence in Ethereum spot ETF and ETH products.
Investors Shift to ERC-20 Token Of Emerging DTX Exchange
DTX Exchange (DTX) is an emerging hybrid marketplace, set to transform traditional trading schemas and introduce unique and industry-relevant solutions to the tradFi sector. The project is gaining high market traction after its exceptional presale performance, raising a mind-blowing $760,000 in batch 2 of the public presale.
With surging demand for Ethereum products, DTX Exchange is poised to take the lead with the ERC-20 token standard. Compatible with a wide range of wallets and other services in the Ethereum ecosystem, DTX tokens can play a pivotal role in strengthening the market position of the next deFi giant – DTX Exchange.
1000x Leverage Features of DTX Exchange Gains Prominence
With the increasing demand for industry-relevant deFi projects, DTX Exchange (DTX) holds solid ground with its 1000x feature. The feature is highly relevant for global traders, reducing the need for loans. With the platform’s worldwide scope, investors of stocks, cryptos, equities, and forex can utilize the all-in-one marketplace of DTX Exchange for maximum gains.
Due to its robust security features and blockchain layer 1 technology, investors have shifted focus to this KYC-free platform of DTX, emerging as the next big player in the trading space. DTX token is priced at $0.04 which will rise to $0.06 in the next stage. As DTX continues to grab the spotlight, it can yield massive returns up to 100x soon once the presale concludes.
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