As a seasoned crypto investor with a keen interest in the Ethereum ecosystem, I’m excited about the potential approval of spot Ethereum ETFs by the US Securities and Exchange Commission (SEC). The progress made by asset managers like BlackRock, Franklin Templeton, and Grayscale Investments, as well as the recent approvals of 19b-4 forms, are promising signs that we might see these funds hit the market soon.
The SEC could give its approval for the recent modifications concerning Ethereum-based spot ETFs by July 4th, following advanced talks between fund managers and regulatory bodies.
As a researcher at Reuters, I’ve had the opportunity to engage in conversations with various industry professionals. Notably, eight asset management firms – among them BlackRock, Franklin Templeton, and Grayscale Investments – are reportedly approaching the final hurdles in their application processes. These entities initiated their foray into Bitcoin Spot ETFs back in January following a prolonged regulatory battle. Grayscale, in particular, is attempting to transform an existing trust into an Exchange-Traded Fund (ETF).
Ethereum ETFs Poised For July
As a crypto investor following the latest developments, I can tell you that executives from two firms have reportedly shared with Reuters that the process of fine-tuning the documents for our upcoming investment has made substantial progress. The remaining obstacles are said to be merely “minor” in nature. However, these issues must be addressed and resolved before we can secure the necessary approvals and ultimately launch the funds.
As a crypto investor, I’m optimistic that the approval process won’t take longer than a week or two based on what I’ve heard from another legal expert.
As a seasoned market analyst, I’ve been closely monitoring the developments regarding Ethereum Exchange-Traded Funds (ETFs). Notably, Eric Balchunas, an accomplished ETF expert at Bloomberg, recently hinted that we might see approval for a spot Ethereum ETF as early as before the US Independence Day holiday on July 4th. The potential timeline could even stretch to July 2nd.
Although there have been numerous predictions regarding the launch date, the Securities and Exchange Commission (SEC) and its Chair Gary Gensler have remained silent on the matter. In a recent Bloomberg interview, Gensler expressed positivity about approving these investment vehicles but declined to provide a definite timeline. He suggested that these funds could potentially become available during the summer season.
Recently, the regulatory body granted its approval for the 19b-4 forms during the past month. At present, both the Securities and Exchange Commission (SEC) and the issuers are in the process of finalizing S-1 filings, which need to be authorized before these financial products can begin trading.
Ethereum ETFs Could Attract $15B in 18 Months
Based on Bitwise’s projection, Ethereum Exchange-Traded Funds (ETFs) in the US market are anticipated to draw in more than $15 billion in total investments during their initial 18-month period.
Matt Hougan, the CIO of Bitwise, derived his estimation taking Bitcoin ETF information and Ethereum’s market size into account. At present, Bitcoin’s market capitalization amounts to approximately $1.26 trillion. In contrast, Ethereum’s market size is estimated at $432 billion, resulting in a ratio of 3:1 between the two digital assets.
As a crypto investor, I can tell you that approximately $56 billion worth of Bitcoin’s total market value is currently invested in US-listed spot Bitcoin exchange-traded funds (ETFs). According to Hougan’s predictions, this number is expected to more than double, reaching $100 billion by the close of 2025.
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2024-06-27 21:44