Today a new cryptocurrency called ETHETF Token was launched, and it is the ideal digital asset to capitalize on the approval of an Ethereum ETF from fund giant BlackRock.
Launched at 1pm GMT on Uniswap, the coin’s price soared 186% in the first 10 minutes of trading, currently trading at US$0.02834. $ETHETF could easily multiply its value by 10 today as news of the launch spreads.
$ETHETF has achieved an impressive market capitalization of US$2.68 million, and is backed by robust liquidity of US$1.55 million, thus ensuring smooth trading and minimal price fluctuation.
News that the world’s largest asset manager plans to launch an Ethereum spot ETF has sent the price of ETH soaring above the important $2,000 level.
BlackRock’s initiative has significantly intensified excitement surrounding the expected approval of the first spot Bitcoin ETF, which will soon be available to investors in the United States.
On November 9, 2023, BlackRock’s Ethereum ETF was formalized with the United States Securities and Exchange Commission (SEC), a process led by Nasdaq. Days before this milestone, BlackRock had already established a new corporate entity in Delaware called the iShares Ethereum Trust, setting the stage for this significant development.
When the Delaware news broke, the price of ETH rose 3% and then rose again when the SEC registration was confirmed. Ethereum is currently trading at $2,048, up 10% since listing in Delaware and filing with the SEC.
Ethereum stands out as the main blockchain for running applications based on smart contracts, thus establishing itself as the fundamental foundation for decentralized Web3 applications. Although there are several blockchain ecosystems seeking to challenge its position, none have managed to achieve the same level of effectiveness and popularity that Ethereum boasts.
You don’t need to wait for U.S. Securities and Exchange Commission (SEC) approval and subsequent launch to get involved, as ETHETF is now available on decentralized exchanges. This early opportunity allows astute investors to actively participate in the Ethereum ETF investing theme and take advantage of the positive returns that are already being generated.
An Ethereum ETF will take cryptocurrencies into the mainstream, and the $ETHETF Token lets you be part of the beginning
Just as the approval of a spot Bitcoin ETF will provide unprecedented validation to the leading cryptocurrency, the authorization of an Ethereum ETF promises to generate a similar impact.
Providing a regulated means to invest in the cryptocurrency asset class, exchange-traded funds (ETFs) have the potential to revolutionize today’s investment landscape.
ETFs have the strategy of tracking the value of an underlying asset, replicating its price performance. Often, this is accomplished by replicating an index, such as the S&P 500. In this case, a fund would need to buy a proportional representation of the 500 companies that make up the S&P 500 or use derivatives to achieve an equivalent effect.
Applying this to ETH, it would mean that issuers would need to purchase the asset on the open market or over-the-counter, thus increasing demand for the token.
ETFs appeared on the financial scene when the first gold products appeared. Gold was the ideal candidate for ETF treatment. By tracking a gold price index, everyday people were able to gain exposure to the precious metal without worrying about custody expenses and access to liquidity to trade their gold.
Therefore, just as ETFs revolutionized access to commodities, stocks, fixed income and other asset classes, they also have the potential to do the same for the cryptocurrency universe.
Therefore, the provision of regulated and affordable access to the two most valuable cryptocurrencies has the potential to trigger a significant wave of new investments in the crypto markets.
ETHETF Price Is Heading to the Moon as Ethereum Valuation Could Soar with ETF Approval
Welcoming Ethereum to the ETF universe is the $ETHETF Token. While Bitcoin stands out for its gold-like digital store of value property, Ethereum can justifiably proclaim itself as the sovereign of blockchains for decentralized applications (dApps).
As expected, $ETHETF is an asset that adheres to the ERC20 standard, therefore operating on the Ethereum blockchain. This strategic choice intrinsically links the currency to the success of the Ethereum ecosystem, offering investors a unique opportunity to integrate directly into the core of the most renowned blockchain platform.
Furthermore, in order to encourage ownership of the token and increase its price, a 2% burn tax is implemented on each purchase of the token.
The strategy of burning 2% of the value of each purchase reduces the total supply by 100,000,000 (100 million), thus increasing the value of the remaining tokens.
In addition to its link with Ethereum through the ERC20 standard, the token integrates into its economic structure a unique mechanism to celebrate the approval of an Ethereum ETF in cash. This mechanism is the 2% burn tax, which will be eliminated once the fund receives approval.
Finally, the token’s debut on decentralized exchange Uniswap is a fair launch as there is no team allocation. Tokenomics allocates 95% of supply to liquidity on the DEX and 5% to listings on centralized exchanges (CEX).
To purchase the token, simply connect your cryptocurrency wallet to the DEX, copy and paste the contract address to ensure you are purchasing the correct coin, and then make your purchase.
Finally, make sure you have at least $20 available in your wallet to pay the gas transaction fee.
Buy $ETHETF Today
Notice: This article has the functionality exclusively informative, does not constitute investment advice or an offer to invest. O CriptoFácil is not responsible for any content, products or services mentioned in this article.