ETHEREUM ETFS WHAT YOU SHOULD KNOW

Many analysts say that the U.S. Securities and Exchange Commission (SEC) will reject all existing applications for spot ETFs for the Ethereum cryptocurrency (ETH). Experts state that the chances of approval are no more than 10%. Many of the experts believe that these products will not enter the market until 2025, and it will happen only after the change of the current government and the leadership of the financial regulator in the United States.

The expert emphasized that the SEC can launch ETFs on ETH and other cryptocurrencies at any time. In his opinion, it does not depend on politics and changes in the country's leadership and regulator. He reminded that bitcoin ETFs have already been launched in the US, Hong Kong and many other countries.

"We can assume that the approval procedure for the next funds on other crypto-coins will be much easier and faster than before. There is already a realization that there are not many risks here, that institutional money has already entered the market, that BlackRock and many big banks support this initiative. There is definitely no denial of ETFs anymore".

The specialist emphasized that this instrument is also beneficial to banks. They are very keen to make money on commissions from transactions. Institutions are interested in people buying and selling digital currencies using their services. According to Mozhenkov, these reasons suggest that the launch of ETFs on ETH will happen already this year.

"Most likely, and in the future, the creation of ETFs will move smoothly. I do not foresee any shocks in this area. The process is proceeding methodically as more and more people introduce cryptocurrencies into their lives," the expert summarized.

As of May 20, 2024, the value of ETH is $3105. This figure has grown by 36.15% since the beginning of this year. The market capitalization of the asset reached $373.18 billion.

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