(Bloomberg) -- Crypto prices have surged on signs of momentum toward US approval of exchange-traded funds investing directly in second-largest token Ether, a...
-- Crypto prices have surged on signs of momentum toward US approval of exchange-traded funds investing directly in second-largest token Ether , a shift from a more downbeat outlook as recently as last week.One of the Last Big Bears on Wall Street Turns Bullish on US Stocks
Some fund companies had expected a rejection because their private talks with the SEC hadn’t been as robust compared with the runup to the launch of spot-Bitcoin ETFs, Bloomberg News reported on Friday, citing two people familiar with the matter, who asked not to be named discussing private conversations.
BlackRock and Fidelity are also seeking to start Ether funds. The digital-asset industry views US ETFs as a way of widening crypto’s investor base. Retail investors, hedge funds, pension funds and banks have sprinkled capital into the Bitcoin funds — Millennium Management, Steven Cohen’s Point72 Asset Management and Elliott Investment Management are among the well-known buyers.
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