Ethereum ETF Marks Historic Shift, Says VanEck CEO

Alex Dovbnya

However, JPMorgan is not so optimistic about Ethereum ETFs

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Jan van Eck, CEO of VanEck, is convinced that the approval of the Ethereum ETF spot marked a historic change.

As van Eck noted, exchanges now have the green light to list Ethereum spot exchange-traded funds (ETFs).

He added that their prospectuses still need to be approved by the SEC. “We’re in the process of getting feedback from the SEC to make this consistent with their expectations. I assume that’s true for all the other ETF spot approval applicants,” the CEO added. VanEck.

Regulatory developments

After the Financial Innovation and Technology for the 21st Century Act passed the U.S. House of Representatives, with substantial support from Democratic lawmakers, van Eck now says there is a “real risk” that the SEC loses its authority in the financial field. Home.

According to the VanEck boss, this development prompted the SEC to quickly approve several Ethereum ETFs earlier this month.

However, he also believes that other factors come into play.

As reported by U.Todayseveral ETF analysts as well as legal experts were stunned by this sudden turnaround.

Will Ether ETFs fail?

Although there is a lot of excitement about Ethereum ETFs, banking giant JPMorgan believes these products could attract a much smaller share of inflows than expected.

The largest US bank estimates that these ETFs will receive relatively modest inflows worth $3 billion in 2024. However, this amount could double if staking is allowed.

About the Author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience covering everything related to this booming industry, from price analysis to blockchain disruption. Alex has authored over 1,000 articles for U.Today, CryptoComes and other fintech media. He is particularly interested in regulatory trends across the world that are shaping the future of digital assets. He can be contacted at alex.dovbnya@u.today.

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