As the week begins, crypto investors remain focused on anything that could bring back the bull rally. In this case, Ethereum ETFs could be the spark that ignites another bull run, but the United States SEC has a significant role to play.
Regulators, traders, and investors await the S-1 submissions for the spot Ethereum ETFs, which are expected to go live by the weekend. Today, entities that filed for ETH ETFs will submit S-1 forms to the SEC after making the required changes.
Ethereum ETF’s path into the market
The first half of 2024 revolved around the Spot Bitcoin Exchange-Traded Funds (ETFs) drama. The second half of the year has taken a turn to ETH ETFs. Nate Geraci, the Co-Founder of The ETF Institute, tweeted that “Spot eth ETF S-1 amendments supposedly due tomorrow… How quickly will SEC turn these around?”
He adds that his focus is on the fees: “Again, the main item I’m watching for is fees (which won’t be required with these amendments).” He says, “Assume issuers gearing up for launch in next week or two.”
Advertisement
As markets closed last week, Bitwise, an asset management firm, updated its S-1 registration with the SEC to list and trade ETH ETF shares. BlackRock, 21Shares, Fidelity, and Grayscale will submit their S-1 documents today.
Bitwise CIO Matt Hougan predicts that ETH ETFs will bring in at least $15 billion in net flows by 2025. Matt says, “Everyone wants to know how much spot ether exchange-traded products (ETPs) will attract in net flows. My answer: $15 billion in their first 18 months. That’s not a casual guess. It’s what the data suggests.”
At the time of this writing, Ether has slightly recovered from last week’s dip to trade $3,042. The price has surged by 0.7% in the previous 24 hours. However, ETH’s value remains 12.2% lower than seven days ago.
Bitcoin saw a magnificent surge of 58% in a couple of months after the Spot BTC ETF approval. On January 10, the day of the Spot BTC ETF approval, the price of Bitcoin was $46,105, which appreciated to $73,097 by March.
The Spot ETH ETF approval could push the markets back into the green. If we consider historical data, a Spot ETH ETF approval could lead to the price of Ethereum above $4500, assuming a 50% jump.
Advertisement
Also Read: Golem’s Ethereum Sell-Off: Offloads 24,400 ETH
