Spot Ethereum ETFs: Get Ready for a Potential Mid-June Launch!

Spot Ethereum ETFs: Get Ready for a Potential Mid-June Launch!

Play To Earn Games | 31 May 2024 11:39 UTC

Get ready for a huge crypto breakthrough! Spot Ethereum ETFs might launch by mid-June. Discover the latest updates, market predictions, and potential ETH price rally.

Quick Recap: Spot Ethereum ETFs Are About to Make Waves!

What's Happening?

  • Spot Ethereum ETFs might launch by mid-June!
  • The 19b-4 filings are done; now we need S-1 registration approval.

Analysts' Predictions

  • Bloomberg's James Seyffart says S-1 approvals could come in weeks.
  • Eric Balchunas thinks a mid-June launch is possible with a single round of comments.

VanEck's Fast Move

  • VanEck quickly filed its amended S-1 after getting 19b-4 approval.
  • Other applicants are expected to follow soon.

SEC Challenge?

  • There could be an SEC Commissioner challenge within 10 days, but it's unlikely.

Market Expectations

  • Spot Ether ETFs might attract 20% of spot Bitcoin ETF flows.
  • Since Bitcoin ETFs got $13.3 billion in four and a half months, spot Ether ETFs could see $2.66 billion.

Grayscale Ethereum Trust Concerns

  • Investors might shift from Grayscale Ethereum Trust to spot Ether ETFs.
  • The trust holds over $11.3 billion in assets.

Regulatory Approvals

  • Eight applicants, including big names like BlackRock and Fidelity, got approval.
  • Hashdex didn't get the nod yet.

Potential ETH Price Rally

  • QCP Capital predicts a 60% ETH price rally if spot Ethereum ETFs are approved.
  • Last time, Bitcoin surged from $42,000 to $73,000 in two weeks after ETF approval.

Get ready for some exciting times in the crypto market! This is going to be huge!

Get Ready! Spot Ethereum ETFs Could Hit the Market Soon!

You won't believe this, but spot Ethereum ETFs might be hitting the market as early as mid-June! Following the successful 19b-4 filings, which allow them to be listed on exchanges, we’re now waiting for the next big step: the S-1 registration statements need to be approved before trading can start.

Why Mid-June is the Big Day for Spot Ether ETFs

Here's the scoop: Bloomberg ETF analyst James Seyffart predicts that the S-1 approvals could be granted in just a couple of weeks. But he also notes that the process can sometimes take up to five months. On the other hand, fellow analyst Eric Balchunas is more optimistic, saying a mid-June launch is totally possible. He expects a single round of comments on the S-1 amendments, similar to the feedback given for spot Bitcoin ETF applicants, which could speed up the approval timeline.

Analysts Weigh In: What's the Timeline for S-1 Approvals?

Balchunas tweeted, "The important part is over. Now just logistics. My guess is there’s only one round of comments on the S-1s. And during the Bitcoin one, it took about two weeks. So mid-June is certainly possible. Just a guess though. We will see." Exciting times ahead, right?

VanEck Leads the Pack with Quick S-1 Filing

Hold onto your hats because VanEck, one of the applicants, didn't waste any time and filed its amended S-1 right after getting the green light for the 19b-4 filings. We can expect other applicants to follow suit soon.

Could the SEC Throw a Wrench in the Works?

Now, here's something to keep an eye on. Gabriel Shapiro, general counsel at Delphi Labs, pointed out that the SEC’s approval was granted by its Division of Trading and Markets under delegated authority. This means one of the five SEC Commissioners could challenge the decision within the next 10 days. However, digital asset lawyer Joe Carlasare believes this is unlikely, suggesting that the approval through the trading and markets division indicates no opposition from the Commissioners.

What Spot Ether ETFs Mean for the Market

In a nutshell, market expectations are high. Seyffart predicts that spot Ether ETFs could attract about 20% of the flows that spot Bitcoin ETFs have seen. Balchunas is a bit more conservative, estimating around 10-15%. Since the launch of spot Bitcoin ETFs about four and a half months ago, they've accumulated $13.3 billion in net inflows. Even capturing 20% of that would mean spot Ether ETFs could amass around $2.66 billion over a similar timeframe.

Grayscale Ethereum Trust: What You Need to Know

However, there are concerns about potential outflows from the Grayscale Ethereum Trust if investors move their holdings to spot Ether ETFs. This mirrors what happened with the Grayscale Bitcoin investment product. Currently, the Grayscale Ethereum Trust holds over $11.3 billion in assets.

Who Got the Green Light for Spot Ether ETFs?

As of May 23, regulatory approval was granted to eight applicants, including VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Bitwise, and Invesco Galaxy. But one issuer, Hashdex, did not receive approval on that day.

ETH Price Rally: Could We See a 60% Surge?

According to Singapore-based QCP Capital, the approval of spot Ethereum ETFs in the United States could trigger a substantial rally of up to 60% in the price of ETH. They pointed out that when spot Bitcoin ETFs were approved in January, Bitcoin saw a significant surge from $42,000 to over $73,000 within two weeks of trading. "With Friday implied volatility above 100%, the market is expecting fireworks," QCP Capital stated.

Get ready for some exciting times in the crypto market! This is going to be huge!

The SEC, or the U.S. Securities and Exchange Commission, is the federal agency responsible for regulating the securities industry and protecting investors. It ensures fair and efficient markets, and enforces securities laws to prevent fraud. Want to learn more? Check out their official website here.

Spot Ethereum ETFs: Get Ready for a Potential Mid-June Launch!
Spot Ethereum ETFs: Get Ready for a Potential Mid-June Launch!

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