ETH - Could This New Move From Cathie Wood and Ark Invest Send Ethereum Soaring?
2023-09-16 06:20:00 ET
In what could be a big catalyst for Ethereum (CRYPTO: ETH) , Cathie Wood's Ark Invest has filed an application for the first-ever spot Ethereum exchange-traded fund (ETF). This comes after a summer filled with twists and turns surrounding the launch and approval of the first-ever spot Bitcoin ETF.
So could this new ETF from Ark Invest send the price of Ethereum soaring? There are several different factors to consider.
Let's face it -- the launch of a spot Ethereum ETF probably means little for the seasoned crypto investor. Why would you go to the added step of buying an ETF (which comes with management fees), when you can already go to a cryptocurrency exchange like Coinbase Global and buy Ethereum directly? The only allure of a spot crypto ETF is if you want exposure to crypto, but without the risk or hassle of investing directly in crypto.
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Could This New Move From Cathie Wood and Ark Invest Send Ethereum Soaring?