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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/spot-ethereum-etf-excitement-continues-in-the-cryptocurrency-world/" data-wpel-link="internal">Spot Ethereum ETF Excitement Continues in the Cryptocurrency World</a> 
Cryptocurrency world continues to buzz with excitement around the spot Ethereum ETF. Bernstein released a report suggesting that the approval of spot Ethereum ETFs could be extremely positive for <a href="https://en.coin-turk.com/solana-struggles-with-network-congestion-due-to-meme-coin-demand/" data-wpel-link="internal">Solana</a>. According to the report, the approval of spot Ethereum ETFs in the US will be seen as significant regulatory relief for the cryptocurrency sector. This approval will also increase expectations for Solana (SOL), Ethereum’s competitor, to be categorized as a commodity. 
<h2 style="text-align: justify" id="high-expectations-if-trump-is-elected">High Expectations if Trump is Elected</h2> 
In the Bernstein report, it was noted that the Biden administration might soften its stance on cryptocurrency before the November Presidential Elections, and a potential Trump victory would generally have a positive impact. Analysts Gautam Chhugani and Mahika Sapra stated: 
<blockquote> 
 “In the long term, if Trump is elected, we believe significant legislative and institutional support could initiate long-term structural changes in the <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">financial</a> integration of cryptocurrencies with a new SEC chairman.” 
</blockquote> 
Analysts also noted that the approval of an Ethereum ETF would set a precedent for the first Blockchain asset other than Bitcoin to be accepted as a commodity, raising hopes for Ethereum’s peers like Solana to follow the same path. The classification of cryptocurrencies as securities or commodities will have broad implications. For example, ETF <a href="https://newslinker.co/category/mobile/" target="_blank" rel="noopener" data-wpel-link="exclude">applications</a> and approvals depend on the classification of tokens as commodities. On the other hand, classification as a security means stricter regulatory oversight by the SEC. 
<h2 style="text-align: justify" id="ethereum-appears-more-attractive-than-bitcoin">Ethereum Appears More Attractive Than Bitcoin</h2> 
Bernstein notes that since the approval of spot Ethereum ETFs, Bitcoin has risen by 75%, and they expect similar price movement for Ethereum. The report states that due to 38% of the cryptocurrency being locked in staking, smart contracts, and Layer-2 chains, and 66% of ETH supply not moving in the last twelve months, ETH’s free circulation and supply appear more attractive than Bitcoin’s. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-354892 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/ethereum-3-1.jpg" alt="" width="740" height="415"> 
Galaxy Digital (GLXY) research director Alex Thorn stated in a report published on Tuesday that the approval of spot Ethereum ETF 19b-4 applications is likely this week, but S-1 applications are not expected to go into effect for weeks or months. Thorn emphasized that there would be no spot ETH products trading on the exchange until this summer. 
If the SEC approves spot ETFs, Galaxy predicts they could be launched on exchanges in July or August. Galaxy also expects the regulator to approve all applications simultaneously to avoid giving any issuer an advantage. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/spot-ethereum-etf-excitement-continues-in-the-cryptocurrency-world/" data-wpel-link="internal">Spot Ethereum ETF Excitement Continues in the Cryptocurrency World</a></h5>

Spot Ethereum ETF Excitement Continues in the Cryptocurrency World

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