#InsiderTime #ETF #Crypto🚀 Insider time: crypto is on the attack!
⠀BTC hit a new high after Biden dropped out of the election race. While the crypto party is figuring out his protégé Kamala Harris's attitude towards digital currencies, major players are entering the market – fresh crypto
ETF assets.
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Trump plans to speak at a BTC conference in Nashville on July 27, but the actual rise in bitcoin price already confirms that with a new candidate, it will be extremely difficult for the Democrats to attract the crypto electorate to their side in the race for the presidency.
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The US stock market is showing a strong rebound: NASDAQ +1.58%, S&P 500 +1.08%, but politicians are not to blame. The SEC has finally released Ethereum-
ETFs from 21Shares, Bitwise, BlackRock, Fidelity, Franklin Templeton, VanEck and Invesco Galaxy to the market. Trading in these assets opens today, and the targets and stakes for these funds are extremely high.
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Technically, all of the ETH-ETFs are identical, but for most investors the deciding factor will be commissions. Eight of the nine
ETFs have management fees ranging from 0.15% to 0.25%. The exception is Grayscale Ethereum Trust (ETHE), which began trading back in 2017 and now charges 2.5% management fees.
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Many issuing companies have temporarily waived or lowered fees to attract more investors. For example, asset manager Franklin has removed the fee until January 2025, or until $10 billion is invested in the fund.
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Ethereum-ETFs do not offer staking so far, although several issuers, including Fidelity, BlackRock, and Franklin Templeton, have tried to get approval for such services. The SEC has rejected all requests, but anything is possible in the long run.
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Now, investing in ETH will be easier, cheaper, and, most importantly, safer. The second most capitalized global cryptocurrency is waiting for institutional investors. Analysts believe that after the start of trading in new instruments, Ethereum will be much more profitable than Bitcoin.
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So, are we placing our bets?
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Profits to y’all!