BlackRock CEO Larry Fink has shown interest in a spot Ethereum ETF following the US SEC’s approval of 11 spot Bitcoin ETFs. Major firms such as BlackRock, VanEck, and Grayscale have applied for a spot ETH ETF, indicating a strong interest from US investors in cryptocurrency-based ETFs.
The SEC has set final decision deadlines for the spot ETH ETF applications: May 23, 2024, for VanEck and August 7, 2024, for BlackRock. Bloomberg ETF analyst Eric Balchunas gives a 70% chance of approval by May 2024, linking Ethereum’s prospects closely to Bitcoin’s ETF trajectory.
There is growing anticipation around the potential for a spot Ethereum ETF to bring considerable institutional investment to the crypto market. While optimism is high, some experts, like digital asset lawyer Joe Carlasare, suggest the approval process may take longer than anticipated, and there’s a possibility the SEC might delay its decision.
Following the approval of 11 Bitcoin ETFs, the focus has shifted to Ethereum, the second-largest cryptocurrency. Applications for an Ethereum ETF have been submitted by major firms, including BlackRock, VanEck, 21Shares & ARK, and Grayscale.
The SEC has set final decision deadlines: May 23, 2024, for VanEck’s application and August 7, 2024, for BlackRock’s. Bloomberg’s ETF analyst Eric Balchunas gives a 70% chance of SEC approval for an Ethereum ETF by May 2024. Joe Carlasare, a digital asset lawyer, voices optimism but suggests the approval process may be drawn out.
Approval of a spot Ethereum ETF is expected to attract significant institutional investment into Ethereum. With a Bitcoin ETF already in play, an Ethereum ETF could potentially trigger a new crypto market bull run. There remains a chance that the SEC could delay its decision on an Ethereum ETF due to technicalities.
This story is still developing, and the crypto community remains on the edge of their seats, waiting to see if Ethereum will follow in Bitcoin’s footsteps to secure its own spot ETF. The implications for the market are significant, with institutional funding on the line and the potential for a new surge in crypto enthusiasm. Keep an eye on this space as we track the SEC’s moves and the ripple effects they may have on the cryptocurrency landscape.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | positive |
| Relevance Score | 1 |
| People | Eric Balchunas, Joe Carlasare, Larry Fink |
| Companies | VanEck, US SEC, Bloomberg, BlackRock, Grayscale |
| Currencies | Bitcoin, Ethereum |
| Securities | None |
