Ethereum spot ETFs yesterday took a major step toward becoming available to US investors with the approval of 19b-4 filings, allowing US exchanges (namely Cboe BZX, NYSE Arca and Nasdaq) to list and trade Ethereum spot ETFs.
Thanks to this, Ethereum has been one of the best performing crypto assets this week, with a rise of 19%.
The focus now is on the S-1 registration statements of ETF issuers as they still need to be approved by the SEC before spot Ethereum ETFs can actually be launched and investors can purchase them.
As for when the S-1s will be approved, we have to wait and see. Unfortunately, it could be weeks or months.
However, with 19b-4 out of the way, it could be an opportunity now for savvy crypto investors to buy Ethereum in anticipation of the S-1 being approved, getting ahead of ETFs launching and billions. of dollars potentially flowing to them.
We already saw what happened when bitcoin spot ETFs were launched, and the price of bitcoin reached a new all-time high in the months that followed. Could the same happen with ethereum? Ethereum's all-time high is $4,870, set in 2021. We are currently at $3,650, 35% away.
We are also entering a macroeconomic climate with potentially looser financial conditions, i.e. interest rate cuts and a slowdown in quantitative tightening, conditions in which risk assets such as cryptoassets tend to perform well in terms of prices.
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