We've finally waited: literally at this moment, the SEC registered S-1 applications for spot ETFs on Ethereum. Trading starts today, opening up new investment opportunities.
Among the lucky ones who received approval are such large companies as Fidelity Investments, 21Shares, VanEck, Bitwise Asset Management, Invesco, BlackRock and Franklin Templeton. Earlier, the commission also approved applications from ProShares and plans to launch a mini-ETF and convert the ETHE trust into an exchange-traded fund from Grayscale.
Yesterday, the commission approved Forms 19b-4 for the new instrument. However, the current proposals do not inсlude staking, which the commission representative said could change in the near future.
Bloomberg analyst Eric Balchunas believes that features such as staking and in-kind rewards could be included in the proposals if the US administration changes. Jake Chervinsky, legal counsel at Variant, believes that the innovations are just a temporary issue.
We've waited: just at this moment, the SEC registered S-1 filings for Ethereum spot ETFs. Trading starts today, opening up new investment opportunities.
Among the lucky companies that have been approved are big names like Fidelity Investments, 21Shares, VanEck, Bitwise Asset Management, Invesco, BlackRock and Franklin Templeton. Earlier, the commission also approved applications from ProShares and plans to launch a mini-ETF and convert an ETHE trust into an exchange-traded fund from Grayscale.
Yesterday, the commission approved Forms 19b-4 for the new instrument. However, the current filings do not inсlude staking, which a commission spokesman said could change in the near future.
Bloomberg analyst Eric Balchunas speculates that features such as steaking and in-kind payments could be included in the proposals if there is a change in the U.S. administration. Jake Czerwinski, legal counsel at Variant, believes innovation is only a temporary issue.
Wintermute predicts that the new Ethereum spot ETF will attract between $3.2 billion and $4 billion in investment over the next year, which will drive the price of Ethereum up 24%. These arguments are supported by Balchunas and the president of ETF Store, estimating possible inflows of $5-$8bn and a third of the total demand for BTC-ETFs, respectively.
