JPMorgan Analysts Give a Date for Ethereum

Spot Ethereum ETFs could begin trading as early as November, according to banking giant JPMorgan.

“We view this ETF approval, and crypto in general, as an increasingly political issue ahead of the 2024 presidential election in the United States,” JPMorgan analysts wrote. That's why we expect spot ETH ETFs to be traded before November,” he said.

The U.S. Securities and Exchange Commission (SEC) has approved 19b-4 filings submitted by Grayscale, Bitwise, BlackRock, VanEck, Ark/21Shares, Invesco, Fidelity, and Franklin. S-1 files also need to be approved before they can be processed.

These companies emphasized in their filings with the SEC that they will not engage in staking with Ethereum. “The debate around staking is still ongoing, and we understand that the focus right now is on whether these issuers will be able to collect staking rewards for themselves,” JPMorgan analysts said.