Bets on Ethereum tokens may spark a reversal of fortunes for ETH investors, especially as the token underperformed bitcoin in 2023.

Grayscale's conversion of its $27 billion bitcoin trust into an ETF was finally approved by the Securities and Exchange Commission (SEC) on Wednesday.

Franklin Templeton, the $1.5 trillion asset manager, gave its famous logo a glowing, crypto-y tweak after the SEC approved bitcoin ETFs, possibly girding for a tough battle with BlackRock and other Wall Street giants.

During a Thursday hearing on proposed guidelines for stablecoin issuers, European Banking Authority officials urged stakeholders to engage with regulators to "start on the right footing."

ETFs offer better investor protection, increased liquidity and lower tracking error than close-ended funds and trusts, the report said.

Much has changed since the Winklevoss filed unsuccessfully for the first Bitcoin ETF in July 2013.

Some market watchers have termed the trade a possible “marketing stunt,” one that could have drawn attention to WIF as prices took a hit in recent weeks.