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Economic Times

Economic Times

| 15d

Ether fettered by fate of spot ETF proposals

The second-largest cryptocurrency, ether, has struggled to keep up with the growth of bitcoin. While ether has seen an increase of around 53% in the first three months of the year, bitcoin has grown by 65%. Despite a recent technical upgrade, ether has not seen the same level of enthusiasm from investors as bitcoin. The approval of spot ether exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission is seen as crucial for ether's future growth. However, there is uncertainty surrounding ether's legal status, and some believe the SEC will proceed cautiously. Nonetheless, there is growing interest in the Ethereum blockchain, which powers various applications in the crypto space.

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