SEC Finally Approves Bitcoin ETFs, Is It Ethereum’s Next? Here Are Analysts’ Opinions on Ethereum ETF!
Industry experts predict a clear path to approval of spot Ethereum ETFs in 2024, with some even predicting trading will begin as early as the second quarter.
Spot Ethereum ETFs Ready for Approval in 2024, Analysts Predict
Following the approval of 11 spot Bitcoin ETFs on January 10, the focus has now shifted to spot Ethereum ETFs.
Many major players, including BlackRock, VanEck, ARK 21Shares, Fidelity, Invesco Galaxy, Grayscale and Hashdex, have filed for spot Ethereum ETFs with the US Securities and Exchange Commission (SEC).
Following the approvals, Ethereum’s price rose nearly 3%, rising above $2,500 for the first time since May 2022.
Carlasare predicts that spot Ethereum ETFs will not begin trading until the third quarter of 2024.
However, Hashdex, one of the spot Ethereum ETF applicants, recently suggested that Ethereum products could begin trading as early as the second quarter.
Before the SEC’s approval of spot Bitcoin, Valkyrie Funds’ chief investment officer Steven McClurg stated that he would not be surprised if spot Ethereum and XRP ETFs launched after Bitcoin.
James Seyffart, a Bloomberg ETF analyst, also stated that he is confident that the SEC will approve spot Ethereum ETFs. He argues that the SEC implicitly recognized Ethereum as a commodity when it approved Ethereum futures ETFs in September.
*This is not investment advice.
