Ethereum
When will Spot Ether ETFs FINALLY hit the market? Experts predict deadlines
Big news for Ethereum investors!
On May 23, the United States Securities and Exchange Commission (SEC) approved eight ETF application forms 19b-4 from leading financial companies, including BlackRock, Fidelity, Grayscale, ARKInvest, VanEck, Invesco Galaxy and Franklin Templeton. This has sparked a lot of speculation about when these Ethereum (ETH) ETFs will be listed and available for trading. Unlike Bitcoin ETFs, which took years to list on the New York Stock Exchange (NYSE), experts believe that Ether ETFs will be listed more quickly.
Dive in to find out what experts are predicting and the potential impact on the Ethereum market.
A quick trip for Ether ETFs?
The approval of Bitcoin futures ETFs in October 2021 was significant, but it took more than two years for the SEC to approve their listing on major exchanges like Nasdaq and NYSE.
According to Nate Geraci, President of ETF Store, the groundwork laid in approving 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 happened after the approval of Forms 19b-4 on May 23, paving the way for Ethereum ETFs to enter the market soon.
Geraci estimates that ETH ETFs could be listed in the coming weeks or, at most, in 2-3 months, depending on the pace of the SEC.
Optimistic deadlines
On a lighter note, Eric Balchunas, senior ETF analyst at Bloomberg, suggested that the SEC could decide on ETH ETFs before or after July 4, potentially giving U.S. investors something more to celebrate on Independence Day .
Understanding approval times
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 or even months.
Seyffart pointed out that it took Bitcoin ETFs three months after filing to gain approval and speculated that Ethereum ETFs could follow a similar, if not faster, trajectory.
Market reactions
Anticipation surrounding Ethereum ETFs has fueled bullish sentiment in the market. Ethereum price surged to $3,932, an increase of 3.4% over the past 24 hours and 35% over the past two weeks. This upward trend is partly attributed to former President Donald Trump’s pro-crypto comments, which boosted confidence in the digital asset market.
“Based on today’s price action, it appears that market participants are expressing optimism towards ETH rather than BTC, especially given the potential institutional demand once ETH spot ETF will begin trading.”
QCP Capital
With the SEC’s approval of these eight ETF applications, the stage is set for an exciting time ahead in the crypto market.
So when do you think these Ether ETFs will hit the market? Share your predictions.