Ethereum (ETH) and Everlodge (ELDG) bullish as Grayscale moves closer to Bitcoin ETF

November 16, 2023 09:14 PM AEDT | By Invezz

Ethereum (ETH) and Everlodge (ELDG) bullish as Grayscale moves closer to Bitcoin ETF — Image source: Invezz

Grayscale CEO reveals progress on its BTC ETF

Michael Sonnenshein, the CEO of Grayscale Investments, recently shared significant updates on the company’s pursuit of a Bitcoin (BTC) ETF. During an interview with Bloomberg on November 8th, Sonnenshein disclosed that Grayscale is actively working on converting its existing Grayscale Bitcoin Trust (GBTC) into an ETF.

While he didn’t provide a specific timeline for regulatory approval, Sonnenshein emphasized that Grayscale is engaged in ongoing conversations with the SEC. Grayscale’s potential launch of a Bitcoin ETF has been a topic of great interest. If approved, it could mark a significant milestone, allowing investors to gain exposure to Bitcoin through traditional financial platforms.

Recently, the Bitcoin price has risen from $35,403 on November 1st to $36,843 on November 9th. Experts have noted that introducing a Bitcoin ETF could drive significant adoption, contributing to a bullish price prediction stating BTC could surge to $37,299.27 by December 2023.

New positive developments spur Ethereum (ETH) growth

Ethereum (ETH) has been rising lately as exciting new developments occur. Notably, Evmos, the bridge connecting Cosmos and Ethereum, recently revealed a significant strategic shift in its operations.

On November 7th, Evmos announced that it intends to cease supporting Cosmos transactions on its Ethereum Virtual Machine (EVM), directing its complete focus towards Ethereum transactions.

After this Ethereum news, the coin price increased from $1,858 to $1,917 on November 9th. As a result, analysts forecast the Ethereum value could surge to $2,335.71 by the end of Q4 2023.

Everlodge (ELDG) continues to rise

Everlodge (ELDG) has captured the attention of crypto enthusiasts as a rising presale star.

Normally, if you wanted to invest in property, you’d have to put down a ton of cash first. But with Everlodge, that’s not the case anymore.

By digitizing and minting luxurious properties into an NFT, Everlodge could possibly change the game. Not only that, these NFTs will be fractionalized. Thus, even low net-worth individuals can buy into this $280T industry.

If you’re an investor looking for passive income, then the Everlodge Rewards Club is the place for you. ELDG native token holders will receive free stays in any of their properties without paying a dime. And if they don’t use those stays, they let people sell them for money.

Unlike Bitcoin and Ethereum, Everlodge has one advantage – a low market cap. In other words, it will experience a surge much faster as fewer new funds are needed. It is now in Stage 7 of its presale with a value of $0.025. This is a 150% rise from its starting price. With millions of tokens already sold.

For more information about the Everlodge (ELDG) presale, you can visit their website here.

The post Ethereum (ETH) and Everlodge (ELDG) bullish as Grayscale moves closer to Bitcoin ETF appeared first on Invezz

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.