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The approval of spot Bitcoin ETFs was one of the most anticipated events in all of crypto history. Although $ETH is the biggest altcoin, there hasn’t been as much support for a spot ETF for Ethereum. The recent statement from BlackRock that clients prefer Bitcoin ETFs highlights this trend.
The lower expectation for spot $ETH funds may be linked to the SEC’s decision to delay any potential approval until May. On the flip side, Galaxy Fox ($GFOX) has been attracting investors as the best ICO, selling out in record time.
BlackRock Reconsiders Ethereum ($ETH) ETF As Clients Prefer Bitcoin
The world’s top asset manager, BlackRock, will focus on its spot Bitcoin ETF ahead of its recently applied Ethereum ($ETH) ETF. Speaking at the Bitcoin investors’ event, Digital Assets Director and Asset Manager Robert Mitchnick, said that, ”Bitcoin is overwhelmingly the number one focus.”
According to Mitchnick, there is only “a little bit” of interest in Ethereum, compared to Bitcoin. Because of the higher demand for the $BTC ETF, Mitchnick commented that the asset manager will focus on the spot Bitcoin ETFs.
In addition to this, U.S. SEC recently announced that it will defer its decision to approve Ethereum ETFs until May. This indicates even further delay for the march towards the first $Ethereum ETF. has regressed.
Ethereum is still regarded as one of the best cryptos to buy at the moment, even though there isn’t as much demand for an Ethereum ETF as there is for $BTC. The price of $ETH has risen to $3,700, a 17% gain over the past 30 days. According to Standard Chartered’s prediction, $ETH might hit $14K after the ETF proposal is approved.
Galaxy Fox ($GFOX) ICO Sells Out in Record Time, Investors Anticipate Launch
Galaxy Fox ($GFOX) has generated a lot of excitement within the cryptocurrency community, as its ICO has sold out in record time. The project has raised over $5.4 million, making it one of the best ICO presales of the year. There has been massive support for Galaxy Fox as the project has set out to revolutionize the meme coin market.
Galaxy Fox is a third-generation memecoin that is raising the bar of profitability and entertainment. A unique feature of the project is the implementation of a Web3 endless runner game in which the players will get rewards each season played, making it one of the best meme coins to buy.
Galaxy Fox’s tokenomics design represents the safety of investors who think that the project has the best ICO. Unlike other meme coins that are based on an open supply, the $GFOX token (the ERC20 token of the platform) has a capped supply of 5 billion tokens. Not only that, the team has integrated burning mechanisms, taxation, and staking.
The token-burning mechanism has been integrated to make $GFOX a deflationary asset. Galaxy Fox operates on a 6% taxation system. The funds generated from taxes will be used for the development and expansion of the Galaxy Fox ecosystem.
The benefits brought by these high-powered tools as a 3rd-gen meme coin affirms Galaxy Fox as being one of the best cryptocurrencies to buy in 2024. Besides this deployment, analysts see $GFOX (currently quoted at $0.00364 per coin) increasing by 50x after its project is launched.
Closing Thoughts
Although Ethereum ETF currently lags behind Bitcoin funds, Standard Chartered has predicted that its approval could positively impact its prices.
Meanwhile, Galaxy Fox continues to build momentum over its upcoming launch. Already established as the best ICO of the year, now is the ideal time to join the $GFOX movement before it experiences its explosive rally.
Learn more about Galaxy Fox ($GFOX) here:
Visit Galaxy Fox Presale | Join The Telegram Group | Follow Galaxy Fox on Twitter
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