Crypto fanatics eager for a market-shattering Ethereum spot ETF launch may be in for an underwhelming surprise, according to Bloomberg ETF analyst Eric Balchunas. While the recent launch of multiple Bitcoin spot ETFs in the United States has proven phenomenally successful, Balchunas claims a follow-up launch for Ethereum would be “small potatoes” compared to the...Read More
Bitwise research analyst Ryan Rasmussen projects a 50% probability of spot Ethereum ETFs receiving approval from the U.S. Securities and Exchange Commission (SEC) in May. Furthermore, he anticipates Bitcoin reaching $88,000 by the conclusion of 2024. Ethereum ETF Approval Hangs in the Balance In a recent interview on Yahoo Finance, Rasmussen emphasized that ETFs are...Read More
According to attorney Scott Johnsson, the U.S. Securities and Exchange Commission (SEC) may greenlight an Ethereum (ETH) spot ETF as soon as May 2024. Johnsson estimates that approval could be expected by mid-2025 if this timeline is unmet. Spot Ethereum ETF Approval May Follow BTC’s Timeline In his post on X, Johnsson highlighted the SEC’s...Read More
Coinbase is advocating for the Securities and Exchange Commission (SEC) to approve the listing of the Grayscale Ethereum Trust for trading. In a letter submitted in response to a proposed rule change by NYSE Arca, Coinbase expressed strong support for the listing and trading of Grayscale Ethereum Trust (ETHE) shares as an Ethereum Exchange-Traded Fund...Read More
ETH has been one of the best-performing assets lately, witnessing a remarkable surge above $2,900 as it reached its highest point in almost two years. Currently, Ethereum futures traders appear to be increasingly confident about the leading altcoin’s trajectory. This was evident by the significant surge in open interest which reached its peak to levels...Read More
ETH has been experiencing a surge alongside the overall market’s rebound, climbing nearly 20% in the last week. With a significant rise approaching $3,000, the altcoin’s price increase has been backed by substantial accumulation by whale entities. The buying spree by influential investors of the altcoin reflects the growing confidence as the industry anticipates the...Read More
Cathie Wood, founder of ARK Investment Management, has expressed skepticism regarding the Securities and Exchange Commission’s (SEC) stance on approving spot exchange-traded funds (ETFs) following cryptocurrencies beyond Bitcoin and Ethereum. Wood’s sentiment was echoed in her recent remarks on WSJ’s Take On the Week podcast: “We’d be surprised to see anything but Bitcoin and Ether...Read More
Cathie Wood’s asset manager Ark Invest wants to bake staking into its proposed Ethereum Spot ETF – a feature that could revolutionize how the product is evaluated by Wall Street. In an amended S-1 application form filed on Wednesday, Ark included a lengthy passage about what the Ethereum network is and how it stays decentralization,...Read More
The United States Securities and Exchange Commission (SEC) has again delayed its decision on whether to approve or not a joint spot Ethereum exchange-traded fund (ETF) proposed by Invesco and Galaxy Digital. This marks the second postponement after a similar delay in December and aligns with the SEC’s recent trend of pushing back deadlines for...Read More
The industry is bustling with the trading of the newly introduced spot Bitcoin ETF in the United States, yet there’s no equivalent for Ethereum. However, Jag Kooner, Bitfinex’s Head of Derivatives, suggests that the approval of a Bitcoin ETF could impact the SEC’s view on an Ethereum ETF, likely influenced by Ether’s classification as a security...Read More
The Securities and Exchange Commission (SEC) has postponed its ruling on BlackRock’s request to introduce a spot Ethereum ETF until March. As the largest fund manager globally, BlackRock submitted its application for a spot Ethereum exchange-traded fund (ETF) in November. SEC Delays Decision on BlackRock Spot Ethereum ETF According to a filing on the SEC...Read More
Hester Pierce, popularly known as “Crypto Mom,” who serves as a commissioner with the United States Securities and Exchange Commission (SEC), believes the agency would not need a lawsuit or a court ruling to approve pending spot Ethereum exchange-traded funds (ETFs) application. During an interview with community-owned crypto media outlet Coinage, Commissioner Pierce insisted the...Read More
Nine of the newly launched spot Bitcoin ETFs saw a 34% increase in trading volume on Jan. 18 compared to the previous day. “Normally, with a hyped-up launch, you see volume steadily decrease each day post-launch, rare to see it reverse back up,” observed senior ETF analyst Eric Balchunas on January 19. Eight of the...Read More
Even with significant capital flowing into the recently introduced spot Bitcoin ETFs, the anticipated positive influence on BTC’s price is yet to materialize. Bitcoin experienced a decline of more than 5% following the approvals last week. In contrast, Ethereum recorded an almost 8% rise over the same period despite struggling to sustain the $2,600 level....Read More
The US Securities and Exchange Commission finally greenlighted a spot Bitcoin ETF earlier this week, although in a slightly reluctant fashion. Now, speculations are starting to arise on when the agency will do the same in terms of an exchange-traded fund tracking the performance of the second-largest cryptocurrency. When ETH ETF? 2023 will go down...Read More
Gary Gensler, the Chair of the US Securities and Exchange (SEC), issued cautionary statements to the crypto sector, raising uncertainty about the possibility of the Ether obtaining approval for an ETF similar to Bitcoin. But this has not stopped Ether from surging, which has reached its highest point since May 2022. Perhaps unexpectedly, the approval...Read More
Steve McClurg, co-founder and chief investment officer of Valkyrie Funds, has suggested the potential approval of Ethereum or XRP exchange-traded funds (ETFs) following the expected launch of spot Bitcoin ETFs in a recent Bloomberg interview. The prediction comes from the U.S. Securities and Exchange Commission (SEC), which is reportedly likely to approve Valkyrie’s Bitcoin ETF,...Read More
All eyes are on the launch of a spot Bitcoin ETF, with the announcement expected to be just under three weeks from now. This was according to QCP Capital’s observation which said that an approval could arrive either at the market close on January 5th or sometime between January 8th and 10th in 2024. Every...Read More
The United States Securities and Exchange Commission (SEC) has delayed its decision on whether to approve applications from several asset management firms for Ethereum exchange-traded funds (ETFs) till May 2024. According to several filings, the securities regulator has issued delay orders for Ethereum ETF applications from Ark Invest/21Shares, VanEck, and Hashdex. SEC Extends Deadline For...Read More
The US Securities and Exchange Commission (SEC) has extended its decision on whether to approve or disapprove a spot Ethereum exchange-traded fund (ETF) application by investment management company Invesco and crypto financial services firm Galaxy Digital. The SEC gave a 45-day extension, allowing itself until February 6, 2024, to make its decision on the product....Read More
“Tradfi” may be beginning to rotate into the ETH ETF trade after two months. As per a new report by Reflexivity Research, the annualized basis on CME has consistently increased, reaching over 18%. Bitcoin’s open interest in CME has also experienced continuous growth, surpassing $4.5 billion since the trend began two months ago. Notably, an...Read More
The increased bullish sentiment has led to an approximately 15% increase in the price of Ether within a 30-day period. The fact that Ethereum is now trading above $2,000 suggests a growing focus on the asset, and this renewed optimism has propelled the year-to-date gain in ETH price to almost 70%. New data suggest a...Read More
BlackRock’s competition has heightened as Fidelity – a renowned financial giant with $4.5 trillion in assets under management – has filed for a spot Ethereum exchange-traded fund (ETF). Fidelity Goes for Ethereum ETF In a filing submitted to the United States Securities and Exchange Commission (SEC) on November 17, Fidelity outlined its plans to list and...Read More
With U.S. spot Ethereum (ETH) ETFs now a realistic prospect, some experts are questioning whether their approval will impact the market as much as a Bitcoin (BTC) equivalent. Bitwise – the world’s largest crypto index fund manager – says they won’t be. In conversation with CryptoPotato, the firm’s analyst Juan Leon explained why. Ignorance Of...Read More
After a few weeks of speculation following the registration of the iShares Ethereum Trust in Delaware, BlackRock has filed the S-1 prospectus for the product with the SEC. This is the second cryptocurrency-related exchange-traded fund that the company wants to launch after its spot Bitcoin ETF application. CryptoPotato reported last week when the largest asset...Read More
October witnessed significant advancements in the industry owing to the launch of six ETH Futures ETFs, offering investors a chance to delve into Ether futures. Bitcoin responded positively to the developments. Further gains were fueled by speculations about BlackRock’s application approval of a spot BTC ETF in the United States. As a result, the total...Read More
ProShares is gearing up to introduce a unique offering to the market. The firm recently launched three Ethereum futures ETFs and is now preparing to debut the ProShares Short Ether Strategy ETF (SETH). This new ETF is poised to launch in early November, just a few weeks after the initial Ethereum futures ETFs debuted. ProShares...Read More
Ethereum’s network fees have plunged to some of their lowest levels, with this week recording an average of $1.13, a price last seen in November 2022. Crypto analytics firm Santiment revealed in a post on X that while the latest discovery may not be a perfect signal, it could indicate that ether (ETH) is preparing...Read More
Grayscale, the company behind the world’s largest crypto funds, has now moved to convert its Grayscale Ethereum Trust (ETHE) into a spot Ethereum (ETH) ETF. Since the announcement, shares for ETHE have shot up 2.71% on the day. Grayscale’s Pivot to Ethereum Per a press release shared by Grayscale CEO Michael Sonnhenshein, the conversion to...Read More
Asset managers continue to actively explore digital asset products, with Bitwise poised to launch trading for two Ethereum-themed ETFs next week. The release of the two products is expected to enable investors to gain exposure to CME Ether futures through the widely popular and regulated ETF format for the first time. Bitwise’s Ethereum-Themed ETFs One...Read More
