• Nate Geraci of ETF Store predicts imminent approval of Ethereum spot ETFs.

  • Former SEC official Jay Clayton underscores the inevitability of Ethereum ETF approvals amid growing institutional interest in crypto assets.

  • Hashdex withdraws its application for a spot Ethereum ETF.

There is increasing excitement over the potential approval of Ethereum spot ETFs, fueled by comments from Nate Geraci, president of ETF Store, suggesting approval could be imminent, potentially within the next week.

I’m deciphering this as spot eth ETFs will be approved this week…Just me tho. https://t.co/rFrMThytgC

— Nate Geraci (@NateGeraci) June 23, 2024

Geraci’s prediction aligns with industry insiders such as Eric Balchunas from Bloomberg, who foresee a debut as early as July 2, strategically coinciding with the U.S. Independence Day holiday. Former SEC official Jay Clayton has further bolstered expectations, emphasizing that the approval of Ethereum ETFs appears to be a matter of “when” rather than “if.” This unfolding saga occurs amidst increasing institutional interest in the crypto market, with a particular focus on major assets like BTC and ETH.

Currently, the SEC is diligently reviewing revised proposals from leading asset managers, including VanEck, BlackRock, Grayscale, and Invesco Galaxy Digital. These firms have recently updated their S-1 reports, also disclosing specific management fee details.

Adding to the intrigue, Hashdex, a significant player in the ETF arena, has unexpectedly withdrawn its application for a spot Ethereum ETF. While reasons for this withdrawal remain undisclosed, Hashdex has hinted at future plans involving a combined Ethereum and Bitcoin solution.

All eyes are now trained on the SEC’s forthcoming decisions, which have the potential to mark a transformative milestone in integrating crypto assets into traditional financial markets. The approval of Ethereum spot ETFs could significantly impact market dynamics, potentially influencing the price trajectory of ETH and other cryptocurrencies.

Read also:

  • SEC Reviews ProShares Ethereum ETF: What’s Next for Cryptocurrency Investment Landscape?

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  • Spot Bitcoin ETFs: Approvals Imminent or Delayed to Next Week?

  • Franklin Templeton Introduces Ethereum ETF on DTCC

  • Coinbase Nabs #2 Spot on App Store After ‘Crypto Bowl’ Ad

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