ETH Spot ETFs…already by MAY!!?!

Ethereum Spot ETFs on the Horizon, Predicts Bloomberg Analyst

On January 10, with the U.S. Securities and Exchange Commission (SEC) greenlighting 11 spot Bitcoin exchange-traded funds (ETFs), the stage is set for the potential approval of Ethereum Spot ETFs in 2024, as per insights from Bloomberg ETF analyst Eric Balchunas.

Balchunas suggests a 70% likelihood of the SEC approving spot Ether ETFs by May, aligning with the decision deadline for several pending applications. He notes the interconnected nature of Ether and Bitcoin spots, expressing skepticism that Bitcoin ETFs could be approved without a parallel approval for Ether ETFs.

The initial decision window for spot Ethereum ETFs falls in May, primarily for VanEck's Ethereum ETF, while BlackRock faces a deadline in August. A positive SEC decision may pave the way for approvals akin to the recent Bitcoin ETFs.

Before the SEC's Bitcoin ETF nod, Steven McClurg, Chief Investment Officer at Valkyrie Funds, hinted at potential Ether and XRP ETFs post-Bitcoin approval. Major asset managers, including BlackRock, VanEck, ARK Invest & 21Shares, Fidelity, and Invesco Galaxy, have submitted applications for spot Ether ETFs, with SEC decisions expected between May 23 and August 7.

Following the Bitcoin ETF approval, Ethereum (ETH) experienced a surge, gaining 8.5% in the past 24 hours and rallying over 15% in the last week, surpassing the $2.5K mark, driven by investor anticipation surrounding potential spot Ether ETF approval.