According to crypto research firm 10x Research, a US-listed Ethereum ETF is more than likely to be approved by the SEC today. Reflecting on the SEC's previous warning signals ahead of crypto futures-linked ETF listings, 10x Research believes that a similar warning could come around 9 a.m ET, providing more clarity on the imminent Ethereum ETF approval.
In anticipation of this event, the Grayscale Ethereum Trust has seen discounts narrow from -30% to just -8% within a week, suggesting a high likelihood of an ETF approval. Notwithstanding, some market turbulence is expected as investors move to lock in their gains. Likewise, discussions on the exact timing these approved ETFs will start trading have intensified.
10x claims Ether prices could rise further under a dovish Fed. With a positive stance from both US political parties, the firm expects Ethereum prices to escalate further in the long run, especially if the focus shifts from transactional value to storage value.
However, the firm emphasizes that ETF approval is just the first step in their anticipated future, with tokenization of all assets being the ultimate milestone. As the crypto industry continues to evolve, ETFs, including Bitcoin and Ethereum, are expected to hold substantial crypto exposure.
