An interesting update if you are following Ethereum price. The update came yesterday from the American Securities and Exchange Commission as they updated the ETHERINDEX ETHER TRUST preliminary prospectus. The Initial registration of the Etherindex Ether trust with the SEC dates back to the 15th of July 2016.
For investors, it is nice to finally see some updates on this proposal as if approved, it will help increase the demand for Ether therefore increasing Ethereum price and value for investors.
The timing of this update couldn’t be better as:
- Ethereum’s transactions are hitting another All-time high number of transactions for Ethereum and for other cryptocurrencies. This is a good indicator of both demand for Ether and the coding behind the cryptocurrency. Lately, Ethereum transactions have been breaking record after record.
- Ethereum is about to enter the Ethereum Metropolis upgrade to offer developers and investors better performance and value
- The SEC Announced the appointment of Dalia Blass as Director, Division of Investment Management. Dalia is returning to the SEC following a counsel role with at Ropes & Gray LLP. Ropes & Gray is a global law firm with offices in the US, Asia and Europe. They acted as an advisers to the Winklevoss twins on their Bitcoin exchange-traded fund bid.
With all these positive catalysts lining up for Ethereum, it will be interesting to see how the new appointment to the SEC will pan out for Etherindex and therefore Ethereum price. If the outcome is positive, it could provide a huge boost not only for Ethereum price but for the whole Cryptocurrency ecosystem. Even traditional Investors would see it as a vote of confidence and trust in this budding market.
Our Editorial team will be watching the development in this proposal and providing updates to our readers. Especially considering the fact that Ethereum’s price is in a crucial spot right now.
For more info on initiatives that could have a positive impact on Ethereum’s price, we wrote previously about Microsoft’s new Coco plateform, Ethereum potetially reshaping the legal industry and provided more details on the upcoming anonymity enhancements in Ethereum.