Spot Ethereum ETFs Expected to Follow Bitcoin, Experts Anticipate SEC Approval
The recent approval of the Bitcoin spot ETF has sparked optimism among experts, signaling a shift in trader sentiments. Many now speculate that Ethereum (ETH) spot ETFs could be the next in line for approval by the U.S. Securities and Exchange Commission (SEC).
Several companies, including BlackRock, Hashdex, ARK 21Shares, VanEck, and Fidelity, have already filed applications for the launch of spot ETFs on Ethereum.
Richard Galvin, co-founder of asset management company DACM, noted, “The size of Ethereum, its liquidity, and existing futures on the Chicago Mercantile Exchange (CME) make a physical ETF on ETH in the U.S. viable, using the successful BTC model.”
Consensys Chief Strategist Lawrence Smith pointed out that SEC’s green light for ETFs is just the first approval for digital asset funds. He expects the next approval to be a spot Ethereum ETF.
Bloomberg analysts are confident that the new instrument based on the second-largest cryptocurrency has a 70% chance of approval this spring. They accurately predicted the approval date for Bitcoin spot ETFs before.
Plans for the Coming Year In early January, developers finalized the Ethereum testnet upgrade schedule. The Dencun hard fork will commence on January 17 in the Goerli test network. Following this, Sepolia will be updated on January 30, and Holesky will follow on February 7.
Dencun is expected to implement the EIP-4844 proposal, also known as “proto-danksharding,” aimed at scaling the network. Developers anticipate that this initiative will reduce transaction fees in second-layer networks (L2) based on rollup technology.
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