- The Purpose Ethereum ETF now holds over 62,000 ETH value roughly $133.9 million
- The Ether ETF affords investor publicity to Ethereum and is listed on the Toronto Stock Exchange
- Interest in ETH continues to develop grown as Ethereum transitions to a Proof of Stake algorithm
- Ethereum won’t dump after the London Upgrade on August 4th as a result of fundamentals and future development
The Purpose Ethereum ETF now holds over 62,000 ETH value roughly $133.9 million utilizing ETH’s present worth at $2,160. This quantity of Ethereum at the moment on the Purpose ETF was highlighted by the crew at Bloqport via the next tweet.
The Purpose Ether ETF now holds over 62,000 #eth pic.twitter.com/0q39eorqPx
— Bloqport Insights (@Bloqbot) July 23, 2021
The Purpose Ether ETF Offers Investors Direct Exposure to Ethereum
The Purpose Ethereum ETF affords retail and institutional traders an opportunity at gaining publicity to Ethereum with out worrying about safety and regulatory hurdles. The Purpose Ethereum ETF is bodily settled and held in chilly storage. Additionally, buying the ETF is much like shopping for shares of your favourite inventory as it’s listed on the Toronto Stock Exchange.
Interest in Ethereum Continues to Grow and ETH Might Not Dump After August 4th
An increment in ETH holdings of the Purpose Ethereum ETF is an indication of demand for the digital asset amongst retail and institutional traders. This is partly as a result of progress being made to transition Ethereumm from Proof-of-Work to Proof-of-Stake.
To notice is that the Ethereum London Upgrade is simply days away as it’s scheduled for launch on the 4th of August.
In a traditional situation, such an occasion can be a ‘promote the information’ occasion. However, the improve is one in all many that can usher within the period of Proof-of-Stake (PoS) on Ethereum. The improve additionally introduces the extremely anticipated EIP1559 that tames excessive gasoline charges and turns Ethereum right into a deflationary asset.
As a end result, the worth of Ethereum won’t be negatively affected by the activation of the London Upgrade as traders and merchants are conscious it’s a hug step in the direction of the tip objective of PoS.
6.413 million ETH is Staked on the Ethereum 2.0 Deposit Contract
Evidence of investor confidence within the Ethereum Upgrade may be seen within the quantity of ETH already staked on ETH2.0. At the time of writing, 6.413 million ETH, value $13.858 Billion, is at the moment locked on the Ethereum 2.0 deposit contract, as highlighted within the screenshot beneath. This quantity will solely be unlocked as soon as Ethereum utterly transitions right into a PoS community.