The second-largest cryptocurrency by market cap, Ethereum, has recently crossed the $3,000 mark for the first time in history.
Earlier on Friday, VanEck has filed for an Ethereum ETF with the SEC. VanEck has already submitted a Bitcoin ETF, which is pending review – this is their first Ethereum ETF application. If successful, it will become the first Ethereum ETF to be available on US stock markets.
Ethereum’s Growing Momentum
Ethereum (ETH) has been hitting new highs on several metrics recently. Several outspoken leaders in the crypto space like Mark Cuban have expressed their belief that ETH will surpass BTC’s market cap in the long run.
As of now, despite having the highest hash rate and market capitalization, Bitcoin falls short when it comes to use-cases. It’s primarily used as a store of value and a medium of exchange, but there’s a lot of things neo-cryptocurrencies can do that Bitcoin can’t.
Ethereum’s EVM allows for native smart contracts and tokens, which open u
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