As the launch of Bitcoin ETFs continues to increase institutional investment, giant companies continue to look for “altcoins” as an alternative. Leading investment companies of the USA, especially BlackRock Ethereum ETF continues to explore possibilities for approval.
Spot Ethereum ETF Approval Chance is 60%
Bloomberg Intelligence senior ETF analyst James Seyffart puts an estimated 60% chance of spot Ethereum ETFs gaining approval in May. As Koinfinans.com reported, the recent postponement of decisions regarding BlackRock and Grayscale’s potential ETH ETFs by the SEC was the most important event that changed expectations. Other companies for the spot ETH ETF, including Ark 21Shares and VanEck, also continue to await decisions.
According to Seyffart, May 23, 2024 is the most important first date for spot Ethereum ETF approval. On this date, the 240-day period for the SEC to decide on the offers from Ark 21Shares and VanEck will expire.
Although May 23 is the deadline, the SEC may request applicants to “withdraw their requests” just before this date. If such a request comes from the SEC, it will mean a positive outlook rather than a negative outlook. However, if a definitive approval is not received on May 23, there is a higher probability of an approval next year, that is, in 2025.
According to Van Buren Capital general partner Scott Johnsson, the chances of Ethereum ETF approval are close to 100%. Although the approval date is not certain, he remains optimistic that this approval will come. protecting.
The Road Ahead: A View on ETH Spot
NEWS CONTINUES BELOWThis is intended to be a deep dive into the current landscape for crypto spot ETFs generally with emphasis on ETH. Will do this in 4 parts for ease of reference.
1 – General Roadmap
2 – Threshold Issue
3 – BTC Spot Approval
4 – ETH Analysis
🧵— Scott Johnsson (@SGJohnsson) January 25, 2024