Nate Geraci, president of the ETF Store, predicts the imminent approval of a spot Ethereum ETF.
Analysts and industry leaders, including Matt Hougan from Bitwise Asset Management, have echoed Geraci's optimism. They believe this approval could attract significant interest and investment in Ethereum, potentially reshaping the broader cryptocurrency market and industry.
Experts predict major impact of potential Ethereum spot ETF
Nate Geraci has sparked major interest in the crypto community by predicting the approval of a spot Ethereum ETF this week. Geraci shared his expectations on social networks.
“Welcome to spot ETH ETF approval week… I believe. Don't know anything specific, just can't find any reason to delay any further at this point. Publishers are ready for launch,” he wrote on X.
Geraci's prediction follows extensive discussions and regulatory filings regarding an Ethereum ETF. During an appearance on CNBC's ETF Edge last week, Geraci, along with Matt Hougan, discussed the possibility and impact of ETF approval.
As one of the potential publishers, Hougan has emphasized the minimum modifications needed in the latest filings. This shows that approval is getting closer.
“That [small revisions] indicates that we are getting closer to the finish line. I think what you hear about this week or next week, that makes sense to me. This is a very quick process. Remember, just two months ago, no one expected to see these ETFs. Now it looks like we will see them. And we will see what the reaction is,” Hougan commented.
Geraci also highlighted the growing interest in crypto assets among institutional investors and financial advisors. He noted that despite current market conditions, demand for Ethereum could be similar to the significant success seen with Bitcoin ETFs.
“Spot Bitcoin ETFs are the most successful ETF launch in the history of the industry when you consider the 10 or 11 ETFs that have come to market. I think spot Ethereum ETFs could be the second most successful launch ever,” Geraci stated.
Additionally, market analysts believe that ETH could experience positive price action following the launch of the Ethereum spot ETF. Trader Daan Crypto suggested that the approval could be a bullish sentiment.
“ETH so far so good. Approaching $3,350. We should get S-1 approvals this week, with ETFs starting trading shortly after,” he commented.
ETH price performance. Source: X/DaanCrypto
Michaël van de Poppe, founder of cryptocurrency consulting company MN Trading, also agrees with this view. He highlighted Ethereum's recent performance and its superiority over Bitcoin. Van de Poppe thinks an Ethereum ETF could further push its dominance in the market.
“The upcoming Ethereum ETF has the potential to push it further, beyond which a potential bearish divergence on the weekly timeframe looks inevitable to take effect,” he explained.
Source: Michaël van de Poppe
Furthermore, industry experts believe that a spot Ethereum ETF will spur other cryptocurrency ETFs to emerge. Earlier this month, the CBOE Exchange presented form 19b-4s for spot trading of the Solana ETF to its first two issuers, VanEck and 21Shares. However, the US Securities and Exchange Commission (SEC) will have until 2025 to respond to this request.
Source: https://tapchibitcoin.io/etf-ethereum-se-duoc-phe-duyet-tuan-nay.html
