[ad_1]
“SEC just added the ProShares’ Ethereum ETF Filing to its website. (That is extremely quick) Instinct initially says this wont launch on day 1 with the other ETFs whenever that is but who knows. This is interesting.”
Significantly, ProShares passed on BTC-spot ETFs but deemed an application for an ETH-spot ETF appropriate. With issuers awaiting the approval of the S-1 forms, ProShares could launch at the same time as the early applicants if the SEC approves its 19b-4 in time.
More marquee players at the starting line could draw more investor interest into the US ETH-spot ETF market. According to the ETF Database, Proshares Advisors LLC ranked sixth on the ETF Issuer Revenue League Table. BlackRock (BLK), State Street (STT), and Invesco (IVZ) held the top three spots, with Vanguard fourth.
Technical Analysis
Bitcoin Analysis
BTC remained comfortably above the 50-day and 200-day EMAs, reinforcing bullish price signals.
A BTC return to $70,000 would support a move to the Friday (June 7) high of $71,992. A breakout from $71,992 could signal a climb to the $73,808 all-time high.
US economic indicators, BTC-spot ETF market flow data, and US politics need consideration.
Conversely, a BTC break below the $69,000 support level could give the bears a run at the 50-day EMA.
With a 55.77 14-Daily RSI reading, BTC could return the all-time high of $73,808 before entering overbought territory.
[ad_2]
This article was originally published by a www.fxempire.com . Read the Original article here. .
Disclaimer:The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website’s content as such. BitcoinNews.best does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.