(Bloomberg) -- Debut US exchange-traded funds for the Ether cryptocurrency may generate much less demand than spot-Bitcoin products, according to analysts...
-- Debut US exchange-traded funds for the Ether cryptocurrency may generate much less demand than spot-Bitcoin products, according to analysts, muddying the outlook for the second-largest token.Nvidia Tops $3 Trillion in Market Value, Leapfrogging AppleBlackRock Inc. and Fidelity Investments are among the issuers seeking to list Ether funds pending final Securities and Exchange Commission approvals. JPMorgan Chase & Co. strategists expect far smaller Ether ETF net inflows versus the $15.
Meanwhile fund manager VanEck — which is seeking to launch an Ether ETF — sees a tailwind from the popularity of the token’s underlying Ethereum blockchain for applications such as crypto financial services. Eventually, the strength of demand for the new ETFs overshadowed the Grayscale outflows and Bitcoin resumed its march higher.
Ether was trading at $3,847 as of 9:40 a.m. Thursday in London. While Bitcoin remains in sight of achieving fresh records, Ether is some way off the all-time peak of $4,866 set during a pandemic-era bull run. In an update posted at 9 p.m. last night NYSE said it would "bust" all the "erroneous" trades of Berkshire Hathaway stock at or below $603,718.30 a share. -- Axos Financial Inc., which has lent to properties including former President Donald Trump’s flagship New York tower, plunged after Hindenburg Research said it was short the stock because of the bank’s exposure to problematic commercial real estate loans.
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