According to a document uploaded to the website of the U.S. Securities and Exchange Commission, the SEC said it has approved eight Ethereum spot ETFs.
“After careful review, the Commission finds that the proposal is consistent with the Securities Exchange Act and the rules and regulations applicable to national securities exchanges,” the document states.
----Also includes details on eight Ethereum ETFs, including VanEck, Fidelity, Franklin, Grayscale, Bitwise, ARK Invest & 21Shares, Invesco & Galaxy, and BlackRock's iShares Ethereum Trust, which are planned to be listed on Nasdaq, NYSE Arca, and Cboe BZX exchanges.
The Ethereum Spot ETF Form 19b-4s has been approved and we are awaiting approval of the Form S-1 to get the final green light for the ETF to begin trading (there is a delay of 2 weeks to 5 months between 19b-4s and S-1s approvals).
--Form S-1 refers to the form required by the U.S. Securities and Exchange Commission (SEC) for ETFs to list securities and establish trading agreements through multiple rounds of SEC communications.
Once the S-1 is approved, we could see inflows into the Ethereum spot ETF reach 15% of the Bitcoin spot ETF, so between $5-8 billion in inflows in the first few months (which would be extremely positive for Ethereum and other altcoins).
"Standard Chartered Bank's digital asset research agency predicts that this move is expected to bring a large influx of institutional capital to the Ethereum market, with inflows reaching US$15 billion to US$45 billion in the first 12 months."
Predictions for the next ETF vary widely. As I mentioned yesterday the Solana spot ETF could be next, but we won’t see a new ETF anytime soon, but when we do, it will be a coin-specific ETF.
BlackRock is likely to highlight real-world assets (RWAs) in upcoming media appearances. This could boost the most hyped RWA project, ONDO, which is gaining a strong narrative.
As we expect in the community:
Since the signal was sent out, ONDO has risen by 25%. Our team continues to be optimistic about this project and will hold it!
The BlackRock spot ETF-IBIT is really catching up with Grayscale’s ETF-GBTC in terms of volume, lagging behind by only 4,561 BTC.
On May 23, Bitcoin spot ETFs saw a cumulative inflow of $107.9 million - BlackRock's IBIT, with an inflow of $89 million, brought its total net inflow to a staggering $16.2 billion; followed by Fidelity's FBTC, with an inflow of $19.1 million, bringing its total net inflow to $8.7 billion; and Grayscale's GBTC had an outflow of $13.7 million, resulting in a total net outflow of a substantial $17.6 billion.
It is worth noting that IBIT now holds 284,518 BTC, while GBTC holds 289,079 BTC, a difference of only 4,561 BTC.
Previous selections:
《RWA Project under BlackRock and Coinbase Investment Institutions (Potential and Opportunities)!》
“Solana: Why I’m So Confident About It!”
"Why is L0 so popular? "
《The second wave of the cryptocurrency bull market is coming! 》
"Expectations of interest rate cuts are coming, Bitcoin ETF has a historic breakthrough! (Weekly)"
Note: All content represents only the author’s personal views, is not investment advice, and should not be construed in any way as tax, accounting, legal, business, financial or regulatory advice. Before making any investment decision, you should seek independent legal and financial advice, including advice on tax consequences.
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