Spot Ethereum ETFs were recently hit with another wave of outflows as the bears and bulls battle for supremacy in the crypto market. However, amidst this development, an ETF token, ETFSwap (ETFS), has gained traction in its ongoing presale as long- and short-term investors hurry to bag it. This article gives a brief update on the condition of spot Ethereum ETFs and also discusses why ETFSwap (ETFS) continues to flourish despite the bearish climate in the crypto market.
ETFSwap (ETFS) Rekindles Investors Hope With Presale
ETFSwap (ETFS) is an ETF trading platform built on the Ethereum (ETH) network to reshape how crypto community members interact with ETFs. ETFSwap (ETFS) does this by tokenizing exchange-traded funds (ETFs), allowing users to trade ETFs like tokens on the blockchain. This method has enabled ETFSwap (ETFS) to democratize access to assets not readily available on-chain, like stocks, bonds, and precious metals. Users who choose to trade the tokenized ETFs will benefit from the web3 marketplace ETFSwap (ETFS), designed to accommodate experts and newbies with little or no knowledge about trading.
ETFSwap (ETFS) built the web3 marketplace with a user-friendly interface and advanced AI-powered trading tools, which will assist traders with predictive analysis, enabling them to make the best decisions while trading. Users can also benefit from the platform derivative trading arm, which allows them to increase their profit position by over 50x. As a decentralized platform, ETFSwap (ETFS) will not make (KYC) verification compulsory for new users, enabling them to sign up and start trading tokenized ETFs in a few minutes.
Further, unlike traditional ETFs, users can convert the tokenized ETFs on the platform to other cryptocurrencies and use cryptocurrency to purchase the tokenized ETFs. However, to do this, those users must have a portion of the platform’s native token ETFS, which will be instrumental in all the activities carried out on the platform, including trading or converting tokenized ETFs. However, users who purchase the token will benefit from early access to all new ETF listings on the platform, as well as staking rewards and governance.
Moreso, ETFSwap (ETFS) recently announced the launch of phase 1 of its beta platform, where users can test its sleek features. Only users who hold a portion of ETFS will gain that opportunity. While phase 2 is still in the works, phase 1 will feature ETF prices, swapping features, liquidity, and staking pools: also, after thorough UI testing, ETFSwap (ETFS) will release phase 1 of the beta platform. Would you like to purchase ETFS? ETFSwap (ETFS) is currently offering the token to everyone at a low price of $0.03846 per coin in its ongoing presale, so hurry and buy it today.
Spot Ethereum ETFs Hit With $48 Million in Losses
On Tuesday, October 1, 2024, spot Ethereum ETFs, echoing the broader crypto market sentiment, recorded massive outflows, with $48 million exiting the spot Ethereum ETFs. Among the nine active spot Ethereum ETFs, Grayscale got the worst of it with a loss of $26.64 million, and it was closely followed by Fidelity, which saw $24.97 million in outflows. Also, Bitwise Spot Ethereum ETFs recorded the lowest loss with $895,650. Meanwhile, some Spot Ethereum ETFs like VanEck and 21shares pulled in profit, seeing $2.74 and $1.25 million inflows, respectively.
The rest, however, recorded no significant gains or losses. Spot Ethereum ETF’s performance on October 1 has brought the total net outflows of spot Ethereum ETFs to over $572 million, holding $6.8 billion in ether reserve. Ethereum (ETH), which recently tapped the $2,700 mark, has dipped below the $2,400 level due to escalating tensions in the Middle East. According to asset tracker CoinGecko, Ethereum (ETH) currently exchanges hands at $2,385 with a total market cap of over $287 billion.
Conclusion
While spot Ethereum ETFs are currently faring poorly, with heavy outflows, the ETFSwap (ETFS) presale has attracted whales from all regions. Experts speculate that ETFS will soon surge to the $5 mark. When that happens, all early investors will have made over 200x yield on their investments. You can be among the early investors if you buy ETFS today!
For more information about the ETFS Presale:Visit ETFSwap PresaleJoin The ETFSwap Community
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