After the spot Bitcoin exchange traded fund (ETF) applications were approved, all eyes turned to the spot Ethereum ETF.
The spot Bitcoin ETF was approved on January 10, giving Bitcoin legitimacy, especially among institutional investors. Many companies applying for a Bitcoin ETF are also Demand for Ethereum ETF to be drew attention to that direction.
The analyst, who emphasized from the very beginning that the fate of Ethereum ETFs depends on Bitcoin ETFs, did not hesitate to make positive statements after the approval received yesterday.
Bloomberg analyst who made a statement on the subject and stood out with his accurate predictions about the spot Bitcoin ETF process Eric Balchunasupcoming spot Ethereum ETFs There is a 70% chance that it will be approved by May. expressed.
currently BlackRock, Fidelity, hashdex, ARK-21Shares, VanEck, invesco And Grayscale Finance giants such as have applied for spot Ethereum ETF. The US Securities and Exchange Commission (SEC) is scheduled to begin its work on Ethereum ETFs soon.
Offering a different perspective on the subject and acting as a lawyer for many cryptocurrency companies Joe Carlasare says Ethereum ETFs could be approved this year but approval may take longer than expected. he expressed:
Ethereum spot ETFs will be approved, but the SEC will try to carefully establish a precedent that allows them to retain some discretion in determining which digital asset ETFs will be allowed to come to market. In other words, I think the SEC is trying to provide guidance that will discourage applicants from applying for an ETF for every major token.
Ethereum, which quickly gained attention after the legitimacy granted to Bitcoin, managed to stand out with its performance yesterday.
According to CoinGecko data, in the last 24 hours 8.8% Ethereum, which is on the rise, at the time of writing from $2,585 is being traded.