Last night saw a major development for the cryptocurrency markets. US Securities and Exchange Commission (SEC) for ETH, the second largest cryptocurrency in the world announced that it has approved spot ETF. So now ETH, the local currency of the Ethereum network, is just like Bitcoin (BTC). security will be treated as .

A similar incident occurred with BTC a few months ago and this situation was criticized by the cryptocurrency community. was welcomed. Because with such a decision, companies officially began to invest in BTC. Here it all is, now It will also apply to ETH.

It had a positive impact on the ETH price

In fact, the claim that ETF approval will be given for ETH, has been on the agenda for some time. This caused the markets to rise. ETH reached $3,900 with the announcement of the decision. The ETH price is as of the time this article was written. From $3,806 is traded.

With the approval of the ETF for ETH, a whole new page has been opened for the cryptocurrency world. But for the cryptocurrency industry Don’t expect immediate change.. Because ETF issuers must meet certain requirements to officially list spot ETH ETFs. They will have to work. According to industry sources, this could take several days, weeks or months.