ETF analysts are predicting the imminent approval of spot Ethereum ETFs. Despite the Securities and Exchange Commission’s (SEC) characteristically tight-lipped approach, industry experts are optimistic about a wave of approvals coming as soon as this week.
ETH ETF approval expected this week
Nate Geraci, president of The ETF Store and a respected voice in the ETF space, has boldly declared this “spot eth ETF approval week.”
Welcome to spot eth ETF approval week…
I’m calling it.
Don’t know anything specific, just can’t come up w/ good reason for any further delay at this point.
Issuers ready for launch.
— Nate Geraci (@NateGeraci) July 14, 2024
While admitting he doesn’t have specific insider information, Geraci argues that there’s no good reason for further delays. This is given that issuers are primed and ready for launch.
Advertisement
Bloomberg ETF analyst Eric Balchunas echos Geraci’s sentiment, likening the current situation to a rain delay in baseball. “Every issuer is ready. Docs are ready,” Balchunas notes, highlighting the industry’s state of preparedness.
Yeah, rn it’s all quiet on the Western Front re eth ETFs. Nada from SEC this week. Unclear why they taking such sweet ass time. Every issuer is ready. Docs are ready. It’s like a rain delay in baseball. Gotta just wait. Maybe things will move fast next week. We’ll see… https://t.co/o1ZSdIf1nE
— Eric Balchunas (@EricBalchunas) July 12, 2024
The analysts’ predictions suggest we could see as many as eight spot Ethereum ETFs hitting the market in rapid succession. This potential flood of new ETF products could majorly reshape the landscape for institutional and retail investors seeking exposure to Ethereum.
Despite the lack of official word, the crypto community remains optimistic. The approval of spot Ethereum ETFs would mark another milestone in integrating cryptocurrencies into traditional financial markets.
This could potentially help boost the price of Ethereum, as we witnessed in the example of Bitcoin when BTC ETFs were approved.
Advertisement
Also Read: VanEck Head Of Digital Assets Predict Ethereum Can Hit $50k
