DACFP Supports SEC Approval of Spot Ethereum ETFs

News provided by

Digital Assets Council of Financial Professionals

May 24, 2024, 08:00 ET

DACFP's Ric Edelman: "Bitcoin and Ethereum are the Coke and Pepsi of crypto. These ETFs are a Landmark Moment for Investors."

GREAT FALLS, Va., May 24, 2024 /PRNewswire/ -- The Digital Assets Council of Financial Professionals, the leading provider of crypto education, applauds the approval of spot Ethereum ETFs by the U.S. Securities and Exchange Commission. The agency's action marks a significant milestone in the growing acceptance of digital assets into mainstream investment management.

"The SEC's approval of spot Ethereum ETFs is proof that digital assets are a legitimate asset class worthy of consideration by all investors," said Ric Edelman, CBDA, DACFP Founder and the nation's most acclaimed financial advisor. "Just as we have seen massive asset flows into spot bitcoin ETFs, which debuted only a few months ago, we will likewise see substantial flows into these new products."

"Bitcoin and Ethereum are the Coke and Pepsi of crypto," Edelman added, "and now that there are spot ETFs for both of them, you can expect an array of additional ETFs to enter the market, featuring combinations of the two, leverage, and active management. The investment opportunities are going to grow exponentially, as will the prices of both of these assets."

The approval of spot Ethereum ETFs represents a landmark moment for the cryptocurrency market, providing financial advisors, institutional investors and retail investors with inexpensive, easy access to Ethereum in a highly liquid, transparent and familiar package.

"We expect the availability of these ETFs to drive significant inflows into Ethereum, mirroring the enthusiastic reception of spot bitcoin ETFs, which launched in January and have seen tens of billions of dollars in asset flows."

Known as "programmable money" or a "smart contract" platform, Ethereum allows for more flexible and complex financial transactions than bitcoin. This fundamental feature explains why Ethereum is the second-largest digital asset by market cap, serving as a commercial application useful in virtually every industry in the world. Financial advisors can leverage these new ETFs to diversify and rebalance their clients' portfolios, taking advantage of the unique attributes of both bitcoin and Ethereum.

DACFP is providing education about the new spot Ethereum ETFs at its upcoming VISION conference, June 2-4 in Austin, featuring keynotes from MicroStrategy's Michael Saylor, former CFTC Chair Chris Giancarlo and many others. Register at dacfpvision.com.

DACFP also offers the Certificate in Blockchain and Digital Assets online program (CBDA – a FINRA-listed designation), which gives financial professionals, investors, consumers and students the knowledge they need about blockchain technology, digital assets, NFTs, tokenization, and the metaverse – as well as crypto regulation, compliance and taxation.

About DACFP
Founded by Ric Edelman, the Digital Assets Council of Financial Professionals is the leading provider of crypto education. DACFP connects the financial services industry and digital assets communities with leading experts via live and online events, webinars, blogs, and other educational content. Its flagship program, the Certified in Blockchain and Digital Assets^SM, is the first and largest certification program of its kind—an online self-study program featuring a world-class faculty and 18 Continuing Education credits. Thousands of financial professionals from 37 countries have enrolled.

SOURCE Digital Assets Council of Financial Professionals