The post ETH ETF Approval Expected Soon: Could Steal 15% of Bitcoin’s ETF Investment appeared first on Coinpedia Fintech News
Last week, almost eight companies updated their filings S-1 amendments with the U.S. Securities and Exchange Commission (SEC) to prepare for launching a spot Ethereum ETF by the first week of July.
With all the eyes on the launch of the Ethereum ETF launch, recent insights from Markus Thielen CEO of 10X Research, suggest that the Ethereum ETF might steal only 15% of investment compared to U.S. spot Bitcoin ETFs.
ETH ETF To Steal 15% Inflow
Markus Thielen, CEO of 10X Research, shared updates suggesting that Ethereum (ETH) Exchange-Traded Funds (ETFs) could receive approval very soon, potentially launching as early as next week. VanEck, a major financial firm, is making strategic preparations for this milestone.
1-3) ETH ETFs could be approved any day now with potential launch next week. VanEck’s CEO met SEC on Monday and their ETF will waive fees until $1.5bn AUM is reached or until some time next year, then charge only 0.2%. https://t.co/pZS75X2RmZ pic.twitter.com/xc5YeVLvo3
— Markus Thielen (@thielen10x) June 26, 2024
Thielen mentioned that VanEck’s CEO met with the U.S. Securities and Exchange Commission (SEC) on Monday to discuss their ETH ETF. VanEck plans to start with no fees until the fund reaches $1.5 billion in assets or by next year, then charge a low fee of 0.2%.
VanEck has recently filed a form known as 8-A, a step taken exactly 7 days before Bitcoin ETFs launched, indicating readiness for an ETH ETF launch by, July 2nd. VanEck’s Bitcoin ETF currently manages $600 million.
Meanwhile, Thielen predicts the ETH ETF could attract 15% to 20% of the investments seen in Bitcoin ETFs, which are about $14 billion. This suggests the potential for the Ethereum ETF to gather around $2.8 billion in assets, similar to the increase in ETH futures interest since news on May 20th, showing the market is preparing for approval.
Ether Spot ETFs to Attract $15B
On the other hand, Bitwise chief investment officer Matt Hougan suggests that Ethereum ETF is likely to attract $15 billion of net inflows in their first 18 months. The approval of Ethereum ETFs could be a big step for the cryptocurrency market.
It would make it easier for traditional investors to invest in Ethereum’s price without owning the digital currency directly. This move is expected to attract more institutional and regular investors to Ethereum, which could boost its market activity and popularity.
