Ether (ETH) ETF spark optimism because of Bitcoin ETFs, but is it realistic?
The approval of the Bitcoin ETF has many people excited about the prospect of an Ether ETF shortly, but experts warn that the process may take some time.
On January 10, the Securities and Exchange Commission (SEC) of the United States approved ten spot Bitcoin exchange-traded funds (ETFs), making it possible for investors in the U.S to invest in Bitcoin-backed securities. Since their launch on public markets on January 11, spot Bitcoin ETFs have seen billions flowing in.
Similar to the spot Bitcoin ETF submissions in 2023, major financial institutions, including BlackRock, ARK Invest, Fidelity, Invesco Galaxy and others, are submitting applications for a spot Ether ETF. In September 2023, Ark was the first to submit a spot Ether ETF application; BlackRock and other parties followed.
Like with the various postponements in determining whether to allow spot BTC ETFs, the SEC repeatedly delayed its judgment on spot Ether ETFs.
While the deadlines for the seven applicants for Ether ETFs vary, the SEC may decide on all of the applications at once, just like it did with the spot BTC ETFs.
The approval of spot Bitcoin ETFs was a turning point in the history of Bitcoin after multiple years of rejections. However, with spot Bitcoin ETFs now approved, everyone's attention is focused on spot Ether ETF applications, the final deadline for which is in May.