Less than a week after receiving approval for a spot in the Bitcoin ETF, BlackRock is pushing for a $ETH ETF. The CEO of the world’s biggest asset manager, Larry Fink, has said that he sees value in having an Ethereum ETF.
The comments of Larry Fink sparked a bullish momentum for Ethereum, causing a surge past the $2,500 level. Meanwhile, there has been a surge of interest in Galaxy Fox ($GFOX) as it has emerged as one of the best meme coins to buy. Let’s find out about the reason for the surge in interest.
BlackRock CEO Backs Ethereum ($ETH) ETF
In a recent interview, just days after receiving a Bitcoin spot ETF approval, Blackrock CEO Larry Fink stated that he “sees value” in an Ethereum ETF. Applications for spot Ethereum ETF applications have already been submitted by Blackrock, Fidelity, VanEck, and other firms.
The U.S. Securities and Exchange Commission (SEC) will make its decision on the applications by the end of May. According to Fink, a spot Ethereum ETF will be pivotal towards achieving tokenization in the future. He added that this is where he believes we’re going.
Despite being one of the best altcoins, Ethereum’s underlying asset, $ETH, has faced challenges from the SEC, which has categorized it as a security. This could mean that the approval process for a spot Ethereum ETF may be more difficult than it was for Bitcoin.
However, according to Fink, cryptocurrencies should be seen as an asset class rather than currencies. Ethereum has been on an uptrend ever since, rallying past the $2,500 mark. If the Ethereum ETF is approved, a major rally could happen for $ETH, making it one of the best cryptocurrencies to invest in now.
Galaxy Fox ($GFOX) Gains Massive Traction As It Nears New Milestone
Galaxy Fox ($GFOX) has emerged as one of the top altcoins to watch because of its drive to change the memecoin narrative. The majority of the time, memecoins are connected to non-utilitarian projects that are mostly driven by fan enthusiasm and very little utility.
This new ICO crypto intends to alter this by providing its ecosystem with a number of features. The ecosystem includes an immersive play-to-earn (P2E) game, a merchandise store, an NFT marketplace, and some of the coolest NFTs integrated right into the game. This utility is what makes Galaxy Fox one of the best meme coins to buy.
However, a major driving factor for the success of Galaxy Fox ($GFOX) is the earning potential it brings to users. The ecosystem was designed by Galaxy Fox to foster community involvement through rewards for engagement. The more a user engages in the game and other components, the more they can earn.
Galaxy Fox, with its deflationary mechanism, better tokenomics, and unique ecology, aspires to compete with SHIB and Dogecoin for the title of best meme coin. That is why $GFOX is one of the greatest meme coins available today. By 2024, its value had risen from $0.00066 to $0.00198. Analysts predict a 10x growth in the value of the ERC20 coin in the next weeks, signaling a more positive outlook.
Final Thoughts
BlackRock’s proposed ETH ETF might represent a significant step forward in the evolution of Ethereum. With other large asset managers also considering it, ETH is one of the top 5 cryptos to buy now. Meanwhile, Galaxy Fox has made the list because of its unique and fascinating new concept. This is why $GFOX is among the best meme coins to buy in 2024.
Learn more about Galaxy Fox ($GFOX) here:
Visit Galaxy Fox Presale | Join The Telegram Group | Follow Galaxy Fox on Twitter
