KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 22 July 2024 – The U.S. SEC has given preliminary approval to at least three of the eight asset managers planning to launch Ether ETFs, allowing them to start trading on 23 July. This approval depends on the submission of final offering documents. According to Bitwise CIO Matt Hougan, Ether ETFs could have a more significant impact on Ether’s price compared to Bitcoin ETFs. Similar to the outflow from Grayscale’s BTC ETF during its conversion, the ETH ETF, with its higher 2.5% management fee compared to the typical 0.2%, is likely to experience a $10 billion sell pressure. Kar Yong Ang, Octa analyst, believes that modest inflows are expected before investors exit Grayscale, leading to a potential sell-the-news event.
Octa is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services used by clients from 180 countries who have opened more than 42 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools.
The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities.
In the APAC region, Octa received the ‘Best Trading Platform Malaysia 2024’ and the ‘Most Reliable Broker Asia 2023’ awards from Brands and Business Magazine and International Global Forex Awards, respectively.
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