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After years of back and forth, cryptocurrencies are slowly but surely getting spot ETFs. Bitcoin ETFs broke the ice, and now, BlackRock and other institutional investors are making a push to launch Ethereum ETFs. BlackRock has been in talks with the SEC for a long time, and despite making progress, the U.S. Securities and Exchange Commission (SEC) extended its decision period.
Most investors hoped to see Ethereum ETFs by the end of January, but the decision has been postponed to May 2024. So, let's see what's happening in more detail. Another high-potential investment option, eTukTuk, can help you get massive returns while waiting for Ethereum ETFs.
The SEC needs more time to make a decision
After approving Bitcoin ETFs, the SEC is delaying its decision to do the same for Ethereum ETFs for a few reasons. BlackRock made the official proposal on January 25, 2024, but the decision was initially extended to March 10. The SEC stated that Nasdaq made the first proposal on November 21, 2023, published in the Federal Register on December 10.
BlackRock again made the same proposal, and the delays are expected to continue for at least a few months. The next big decision day is now set for May 23rd, 2024, as that's the final decision date.
May 23rd is the day when the SEC must make the final decision on VanEck's spot Ethereum ETF, which will be the final decision on the matter. The regulators will likely make the same decision on similar applications but with different deadlines, and that includes BlackRock's application as well.
Even though the SEC must decide by May, it still needs to be determined if it will approve or deny Ethereum ETFs. However, some of the leading market analysts feel optimistic, as Bitcoin ETFs are already a reality, and there's enough time until May to see how they impact the markets. For example, Bloomberg's ETF analyst Eric Balchunas predicts that Ethereum ETFs are 70% likely to get approved.
The final decision will have a massive impact on crypto prices. If approved, Bitcoin, Ethereum, and other cryptos will likely get a significant boost in value. However, if denied, the crypto markets could enter a downtrend, which could result in a massive selloff and a bearish market for months. Therefore, the stakes are high, and the result will define crypto markets for years to come.
eTukTuk - Green AI revolution crypto to redefine a multi-billion dollar industry
While waiting for the SEC to make up its mind about Ethereum ETFs, another emerging crypto platform aims to revolutionize a massive multi-billion dollar industry while making the world a better place. It's called eTukTuk, and it offers a sustainable transport solution that will help improve transportation in developing countries across the globe by introducing blockchain technologies into a market used by millions of people every day.
Replacing 270 Million ICE TukTuks with sustainable electric motors
Air pollution is a severe health threat, particularly in large cities across South-East Asia. There are over 270 million TukTuks and other three-wheelers on the roads, emitting large quantities of CO2 daily. With rising energy prices and new policies, ICE vehicles are becoming obsolete, threatening the livelihood of millions of TukTuk drivers and their families.
eTukTuk's primary goal is to help build an affordable and sustainable network of charging stations to allow TukTuk drivers to continue their work using electric vehicles. The effect will reduce CO2 emissions while empowering the lives of billions of people worldwide. Air pollution is a serious health concern across developing countries and has a significant negative effect on life expectancy and all kinds of serious health complications.
eTukTuk - Defining the future of transportation on Binance
eTukTuk aims to use blockchain technologies to provide a sustainable transport system by building a network of affordable charging stations and introducing electric vehicles. The system has an AI solution at its core used to streamline everything from navigation and route optimization to reducing fuel consumption and promoting a sustainable, eco-friendly transport solution.
The ecosystem is powered by the $TUK token used to pay for charging. Users can obtain the tokens in multiple ways. The first option is to play a P2E game that puts you in the role of a TukTuk driver driving customers around the streets of Sri Lanka. It's similar to Crazy Taxi, but you drive whacky TukTuks instead of cars.
The second option is buying and investing your $TUK tokens to earn APY rewards. Another option, Power Stake, will allow users to reduce charging fees once the system is up and running. Simply put, eTukTuk is an environmentally sustainable transportation system that will help make the world healthier and more eco-friendly.
$TUK token presale event
eTukTuk is in its earliest presale stages, so you have the perfect opportunity to invest in $TUK tokens at the lowest price possible. The presale event has raised over $660,000 so far, and if you invest today, you can stake your $TUK tokens for an impressive 323% APY. The event enters a new stage every seven days, and the price of $TUK tokens gradually increases. Join the rEVolution today and help build a better world for billions of people worldwide.
Wrapping up
Despite everyone thinking that Ethereum ETFs will go live after the SEC approved Bitcoin ETFs, the final decision has been pushed back to May 2024. We will have to wait another few months before we can invest in ETH ETF. Still, a new Binance token, $TUK, is available for purchase, and it has a noble goal that will help reduce air pollution by replacing ICE TukTuks with electric vehicles. Join the rEVolution today, stake your $TUK tokens, and earn huge returns before the platform goes live later this year.
Vladislav Sopov
Dan Burgin
U.Today Editorial Team