THE ETHEREUM ETF IS COMING FASTER THAN YOU EXPECT
After years of waiting and political obstacles, the world of cryptocurrencies is on the verge of a big change - the arrival of the Ethereum ETF. This news comes in response to the recent approval of the Bitcoin spot ETF, which was an event that few expected to see in their careers. Now, the industry is turning to Ether spot ETF approval as its next target.
Approval of the ETH spot ETF is now considered not only certain, but imminent. While the US Securities and Exchange Commission (SEC) has been able to make baseless claims for over 10 years in its various rejections of BTC equivalents, now they can no longer hide behind vague objections. As Commissioner Hester Peirce noted in her condemnation of the SEC's conduct published on January 10, the denials of these applications never made sense.
Currently, seven ETH spot ETF applications are pending on the SEC's desk. First in line is VanEck with a deadline of May 23, 2024. BlackRock's application deadline is in August, but the world's largest asset manager is expected to dictate the terms of approval. However, the SEC has already opened proceedings on VanEck's applications, which means they would have to provide a very good reason for rejection, which would have ramifications for other pending applications.
The approval of the Ethereum ETF will not only be important for the ETH product, but will pave the way for all types of crypto-backed or related ETPs – from spot products to more complex instruments such as structured products, all linked to digital assets. This approval may set a new standard in the crypto industry and pave the way for a complete institutional colonization of the crypto industry.
The arrival of the Ethereum ETF marks a new era in the cryptocurrency world, opening the door for wider institutional acceptance and integration into traditional financial systems. This event not only confirms the legitimacy of cryptocurrencies as an asset class, but also signals the beginning of a new phase of growth and development in the crypto ecosystem.
