Spot Ethereum ETF is about to be listed! A new storm is coming to the crypto market?
According to people familiar with the matter, the issuer of the spot Ethereum exchange-traded fund (ETF) is expected to obtain final approval from regulators soon! This means that the ETF may be listed as early as next week!
It is said that the issuer is expected to receive the final opinion of the U.S. Securities and Exchange Commission early next week, and it may be received as early as July 12! Although the source did not want to be named, the news is exciting enough!
This week, several issuers, including VanEck and 21Shares, submitted revised registration applications, hoping to obtain final approval from the U.S. Securities and Exchange Commission to start listing spot Ethereum ETFs. A total of eight spot issuers are waiting for regulatory approval!
Analysts predict that the listing of ETH ETF may attract billions of dollars in capital inflows, which may drive the spot price of Ethereum up sharply! Cryptocurrency analyst Mark Dunleavy also said that the reduced supply of ETH on the exchange means less orders and less available purchases, so its spot price will be more responsive to the purchase demand of ETFs than BTC!
Another important source of demand is crypto-native hedge funds! These funds have been keeping billions of dollars worth of spot ETH on their own for years, and are now contacting institutional market makers to exchange these ETH holdings for ETF shares!
It is said that more than a dozen crypto-native funds with total assets under management of more than $1 billion have expressed interest in such exchanges! Once listed, the spot ETH ETF will complement existing publicly traded crypto funds, including 1 spot Bitcoin ETF, which has already started trading after regulatory approval in January!
Currently, ETFs hold more than $50 billion worth of BTC. Dunleavy predicts that ETH ETFs may attract up to $10 billion in inflows in the coming months! Spot Solana ETFs may also join the ranks soon, and at least two may start trading early next year!
Are you ready for this new storm in the crypto market? 🌪️🌪️
