Spot Ethereum ETF Set to Ignite American Investment Surge in Digital Assets

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A survey shows that the American population is now interested in buying Ethereum spot ETF products, which are still waiting for regulatory approval.

In late May, the United States Securities and Exchange Commission (SEC) approved the proposed Ethereum spot ETF applications. Now, the issuers of these ETH ETFs are waiting for final regulatory approval to start trading on the stock exchanges.

Grayscale’s findings confirm analysts’ predictions about the potential success of Ethereum ETFs. According to Quinn Thompson, founder of Leker Capital, and citing Neil Osborne, the ETH ETF offers traditional investors a way to gain exposure to blockchain and cryptocurrency, beyond just Bitcoin.

The latest survey by Grayscale indicates a growing interest in cryptocurrency among American voters. Specifically, a third (approximately 33%) of likely voters have become more open to crypto since the beginning of this year.

Furthermore, 47% of these voters believe that cryptocurrencies will eventually become part of their investment portfolios.

This trend reflects a broader acceptance of digital assets, like Ethereum, which has gained popularity due to its smart contract capabilities, potential for innovation, and increasing integration into financial systems. Ethereum’s versatility and ongoing developments make it an attractive option for those looking to diversify and future-proof their investments.

Ethereum price action 

The current trade price of Ethereum (ETH) coin is $2,995 & this price level is 21% down over the last 30 days period.

Spot Ethereum ETF Set to Ignite American Investment Surge in Digital Assets 1

Ethereum (ETH) has been declining in a large downward channel on the daily chart, failing to surpass $3,500 recently. Now approaching the $3,000 support level and the 200-day moving average, this area is crucial. 

On the 4-hour chart, ETH faced resistance at $3,500 and broke below $3,350 support, targeting $3,000 next. The oversold RSI suggests a possible recovery soon, but breaching $3,000 could worsen the situation.

Read also: Tron to Launch Fee-Free Stablecoin Transactions by Year-End!