Could the Approval of ETH ETFs Spark the Next Major Bull Market?
On Thursday, Reuters, citing unnamed sources, reported that the U.S. Securities and Exchange Commission (SEC) might approve an exchange-traded fund (ETF) linked to the spot price of Ethereum as early as July 4th, following final negotiations between asset management firms and regulatory authorities.
Currently, eight asset management companies, including BlackRock, VanEck, Franklin Templeton, and Grayscale Investments, are seeking SEC approval for these funds. Most of them have already launched spot Bitcoin ETFs earlier this year.
Additionally, SEC Chairman Gary Gensler has stated that the approval process for spot Ethereum ETFs is progressing smoothly.
Galaxy Digital analysts project that spot Ethereum ETFs could see net inflows of $5 billion in the first five months, averaging $1 billion per month.
Brokerage and financial services company StoneX predicts that the launch of Ethereum ETFs could lead to a 40% increase within the first two months. StoneX’s model also forecasts that ETH’s price could soar to as high as $12,621 over the next two years.
