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Cryptocurrencies rose on Tuesday as optimism surged later over the U.S. Securities and Exchange Commission’s decision on spot ether exchange-traded fund applications, with the first filing due this week.
ether The stock led the gains, rising 9% to $3,680.98, according to Coin Metrics. On Monday, the stock soared 20%.
at the same time, Bitcoin Up 2%, it is trading around $71,350, extending an 8% gain from the previous day when it regained $70,000 levels.
Cryptocurrency-related stocks are riding the wave. Coin Library and micro strategy Each rose about 2% in extended trading, and Robin Hood Added 3%.Several Bitcoin mining stocks rose 3%, including marathon numbers, Anti-riot platform, iron (formerly Iris Energy) and clean spark.
There are reports that the SEC has required potential ETF issuers and exchanges to update documents, and investors are reconsidering the possibility of the SEC approving spot Ether ETF applications. The previous consensus was that such a fund would most likely not be approved.
Bartosz Lipiński, CEO of Cube Exchange, said: “Shortly after rumors started circulating that the SEC might approve a spot ETH ETF this week, ETH surged.”
“However, like the spot Bitcoin ETF approved earlier this year, this feels like a ‘buy the rumor, sell the news’ type of situation to me, and I imagine there will be a bounce on Thursday… and then at least There will be a brief sell-off whether funds are approved or not,” he added.
Final decisions on VanEck and Ark Invest applications will be made on Thursday and Friday respectively.
BlackRock, Fidelity, Invesco, Grayscale and Bitwise Asset Management also have applications awaiting decisions this year.
