Executives at three asset administration companies agreed throughout a Feb. 13 panel dialogue that pending spot Ethereum ETFs have a 50% likelihood of approval this Could.
Matt Hougan, World Head of Analysis for Bitwise Asset Management, mentioned
“I think it’s probable we will get an ETH ETF reasonably soon. I think there’s a 50/50 chance by May … “
Steve Kurz, Global Head of Galaxy Asset Management, agreed that there is a 50% chance of a spot Ethereum ETF approval by May. He also predicted a 75% chance by the end of 2024.
Dave LaValle, Global Head of ETFs at Grayscale, also placed approval odds at 50% by May. On whether Grayscale would sue the U.S. Securities and Exchange Commission (SEC) in the event of a rejection, LaValle said: “We’ll have to wait and see how it plays out. We have to look at the facts.”
Grayscale beforehand compelled the SEC to evaluation its spot Bitcoin ETF software by authorized motion. The SEC cited the case as one cause for approving spot Bitcoin ETFs in January.
The 50% odds expressed by every government broadly align with different predictions. JP Morgan member Nikolaos Panigirtzoglou believes there’s a 50% likelihood {that a} spot Ethereum ETF shall be accepted in Could. Bloomberg ETF analyst James Seyffart — a colleague of Eric Balchunas, who hosted at present’s panel dialogue — has predicted 60% approval odds. Lastly, a Polymarket prediction market means that approval odds by the top of Could are 48%.
Eight companies intend to supply an ETH ETF
Of the three companies listed above, solely Grayscale and Galaxy (in partnership with Invesco) have a spot Ethereum ETF software pending with regulators.
Different spot Ethereum ETF candidates embody VanEck, ARK and 21Shares, Hashdex, BlackRock (iShares), Fidelity, and Franklin Templeton.
The SEC should approve or reject VanEck’s software by Could 23. Although it won’t essentially approve the fund, it’s going to possible resolve on different comparable purposes on the identical time.
No spot Ethereum ETF exists on the US market at current. Bitwise at present gives two Ethereum futures ETFs, which don’t present publicity to the spot Ethereum market. Grayscale gives an Ethereum Belief and an Ethereum Futures Belief, each of which it intends to transform to ETFs. Many different asset managers additionally supply Ethereum futures ETFs.
Ethereum Market Information
On the time of press 10:31 pm UTC on Feb. 13, 2024, Ethereum is ranked #2 by market cap and the worth is down 0.73% over the previous 24 hours. Ethereum has a market capitalization of $315.64 billion with a 24-hour buying and selling quantity of $18.89 billion. Learn more about Ethereum ›
Crypto Market Abstract
On the time of press 10:31 pm UTC on Feb. 13, 2024, the entire crypto market is valued at at $1.85 trillion with a 24-hour quantity of $79.5 billion. Bitcoin dominance is at present at 52.41%. Learn more about the crypto market ›
