Big news for Ethereum investors!
On May 23rd, the U.S. Securities and Exchange Commission (SEC) approved eight ETF 19b-4 application forms from prominent financial firms, including BlackRock, Fidelity, Grayscale, ARKInvest, VanEck, Invesco Galaxy, and Franklin Templeton. This has sparked much speculation about when these Ethereum (ETH) ETFs will be listed and available for trading. Unlike Bitcoin ETFs, which took years to get listed on the New York Stock Exchange (NYSE), experts believe Ether ETFs will be listed more quickly.
Dive in to find out what experts predict and the potential impact on the Ethereum market.
The approval of Bitcoin futures ETFs in October 2021 was significant, but it took the SEC over two years to authorize their listing on major exchanges like Nasdaq and NYSE.
According to Nate Geraci, President of ETF Store, the groundwork laid during the approval of Spot Bitcoin ETFs and ETH futures ETFs suggests that the SEC has already completed much of the necessary regulatory work.
Lipper Alpha Insights reports that on January 10, 2024, when Bitcoin ETFs were listed, the SEC also approved a rule change that would allow exchanges to list ETH ETFs in the future. This came after the 19b-4 forms were approved on May 23rd, paving the way for Ethereum ETFs to enter the market soon.
Geraci believes that ETH ETFs could be listed within the next few weeks or, at most, 2-3 months, depending on the SEC’s pace.
In a lighter tone, Eric Balchunas, a senior Bloomberg ETF analyst, suggested that the SEC might decide on ETH ETFs before or after the Fourth of July, potentially giving American investors something extra to celebrate on Independence Day.
James Seyffart, another Bloomberg Intelligence expert, shared his insights during an interview on the Bankless HQ podcast. He noted that while the exact approval date is uncertain, the process could take weeks to months.
Seyffart pointed out that Bitcoin ETFs took three months after filing to gain approval and speculated that Ethereum ETFs might follow a similar, if not faster, trajectory.
The anticipation surrounding Ethereum ETFs has fueled a bullish sentiment in the market. Ethereum’s price has surged to $3,932, marking a 3.4% increase in the last 24 hours and a 35% rise over the past two weeks. This upward trend is partially attributed to former President Donald Trump’s pro-crypto comments, which have bolstered confidence in the digital asset market.
“From today’s price action, it seems that market participants are expressing their bullishness in ETH rather than BTC, especially with the potential institutional demand once the ETH spot ETF starts trading.”
QCP Capital
With the SEC’s approval of these eight ETF applications, the stage is set for an exciting period ahead in the crypto market.
So, when do YOU think these Ether ETFs will hit the market? Share your predictions.
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