Ethereum

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Galaxy

Asset management executives anticipate a pivotal decision on the introduction of spot Ethereum Exchange-Traded Funds (ETFs) in the United States, with a consensus view that there’s a 50% likelihood of regulatory approval by May 2023.
During a panel discussion on Feb. 13, leaders from Bitwise Asset Management, Galaxy Asset Management, and <a href="https://crypto.news/tag/grayscale/" rel="noopener noreferrer nofollow">Grayscale </a>shared insights into the prospects of Ethereum ETFs, marking a significant moment for cryptocurrency investment products.
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 On the odds of an <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ETH</a> ETF this year: <a href="https://twitter.com/Matt_Hougan?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@Matt_Hougan</a>: “I think it’s probable we will get an ETH ETF reasonably soon. I think there’s a 50/50 chance by May, but the bigger story is what’s going on with the <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a> ETFs.” <a href="https://twitter.com/SteveKurz?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@SteveKurz</a>: “This is just the beginning of a crypto asset… <a href="https://t.co/VCSllhmxPb" target="_blank" rel="noopener noreferrer nofollow">https://t.co/VCSllhmxPb</a>— Eleanor Terrett (@EleanorTerrett) <a href="https://twitter.com/EleanorTerrett/status/1757432177929674945?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">February 13, 2024</a>
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Matt Hougan of Bitwise expressed optimism, stating a “50/50 chance by May” for the approval of an Ethereum ETF, a sentiment echoed by Steve Kurz from Galaxy, who also suggested a 75% probability by the end of 2024.
Dave LaValle of Grayscale highlighted the uncertainty surrounding potential legal actions against the U.S. Securities and Exchange Commission (SEC) should their application face rejection, reflecting on Grayscale’s previous legal approach that led to the reconsideration of its spot Bitcoin ETF application.
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The panel’s perspective aligns with forecasts from other industry experts. Nikolaos Panigirtzoglou of <a href="https://crypto.news/jpmorgan-bitcoin-etfs-impact-ethereum-surprise-skeptics/" rel="noopener noreferrer nofollow">JP Morgan</a>, Bloomberg ETF analyst James Seyffart, and predictions from the Polymarket suggest varying degrees of optimism, with estimates ranging from 48% to 60% for approval by May’s end.
Currently, <a href="https://crypto.news/sec-delays-grayscale-spot-ethereum-etf-to-may/" rel="noopener noreferrer nofollow">Grayscale </a>and Galaxy, in collaboration with Invesco, have pending applications with the SEC for a spot Ethereum ETF, alongside other prominent firms such as VanEck, ARK and 21Shares, Hashdex, BlackRock (iShares), Fidelity, and Franklin Templeton. The SEC’s decision on<a href="https://crypto.news/what-is-ethereum-etf-and-how-could-vanecks-launch-impact-crypto/" rel="noopener noreferrer nofollow"> VanEck’s application</a>, due by May 23, is highly anticipated and is expected to set a precedent for other similar proposals.
The United States market has yet to welcome a spot Ethereum ETF, with existing investment vehicles primarily focused on Ethereum futures. Bitwise and other asset managers, including Grayscale, offer Ethereum futures ETFs, which differ from direct exposure to the spot Ethereum market. Grayscale, in particular, aims to convert its Ethereum Trust and Ethereum Futures Trust into ETFs, further emphasizing the growing interest in Ethereum-based investment products.
Read more: <a href="https://crypto.news/sec-pushes-back-deadline-for-decision-on-the-invesco-and-galaxy-ethereum-etf/" rel="noopener noreferrer nofollow"> SEC pushes back deadline for decision on the Invesco and Galaxy Ethereum ETF </a>

Asset managers predict 50/50 chance for Ethereum ETF approval by May

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