A survey conducted jointly by Grayscale and The Harris Poll shows that the U.S. Securities and Exchange Commission's (SEC) approval of a spot Ethereum ETF will likely boost American investment in the asset digital.
While the long-term performance of ETFs remains uncertain, the poll suggests that the launch of these funds will significantly accelerate the maturity and widespread adoption of the cryptocurrency market.
Ethereum ETF will drive adoption
The poll found that nearly one in four survey respondents would likely consider investing in Ethereum if an ETF-based product were approved. This approval will increase their interest in Ethereum and other crypto assets beyond Bitcoin.
US investors interested in Ethereum ETF. Source: Grayscale
Grayscale's findings support analysts' predictions about the potential success of an Ethereum ETF. Quinn Thompson, founder of Leker Capital, stated that the ETH ETF is representative of traditional investors with no exposure to blockchain and cryptocurrencies beyond digital gold.
“By investing in Ethereum, you will gain exposure to stablecoins/payments, tokenization, DeFi, digital art /NFT, layer 2 infrastructure/staking/scaling. All this new technology are all built on Ethereum and pay for usage and activity, which accumulates as revenue for the network and the ETH token” .
This view has many market experts predicting significant Ethereum ETF investment inflows when trading begins. Charles Yu, Vice President of Research at Galaxy Digital, estimates that the ETH ETF could attract up to $1 billion in monthly inflows in its first five months. Similarly, Bitwise CIO Matthew Hougan predicts investment inflows will reach $15 billion within the first 18 months.
Despite the high potential for success, 25% of Grayscale respondents said ETF approval would not affect their investment preferences. The survey also highlighted that a significant portion of the population is still unfamiliar with the Ethereum spot ETF, with approximately 43% of US voters unaware of the fund.
Ethereum ETF Survey. Source: Grayscale
Meanwhile, the survey shows that cryptocurrency has become an increasingly important topic for American voters. Accordingly, one-third of likely American voters have become more open to cryptocurrencies since the beginning of this year, and 47% of them believe cryptocurrencies will eventually appear in investment portfolios their.
