What is Ethereum ETF? How High Will ETH Reach After ETH ETF?

admin
5 Min Read

An Ethereum ETF is an investment fund designed to mirror Ethereum’s price movements, the second-largest cryptocurrency after Bitcoin. These ETFs will be listed on traditional stock exchanges, offering investors broader accessibility to Ethereum’s performance without directly purchasing the cryptocurrency. Which Institutions Have Filed For Ethereum ETF? Several companies have applied for Ether (ETH) exchange-traded funds (ETFs) with the US Securities and Exchange Commission (SEC). These applications have been filed under two different categories: spot ETFs and futures ETFs. Recently, Blackrock filed for a spot ETH ETF. Here are some companies filing for both spot and future ETFs. Spot ETFs Blackrock: Blackrock filed its spot ETH ETF application recently. If approved it will be listed on the NASDAQ exchange. Grayscale Investments: Grayscale filed an application for a spot ETH ETF in June 2022. The ETF, if approved, would track the price of ETH and would be listed on the New York Stock Exchange (NYSE). Ark Invest: Ark Invest filed an application for a spot ETH ETF in May 2023. The ETF, if approved, would invest in ETH and would be listed on the Chicago Mercantile Exchange (CME). ProShares: ProShares filed an application for a spot ETH ETF in May 2023. The ETF, if approved, would invest in ETH and would be listed on the NYSE. Valkyrie Investments: Valkyrie Investments filed an application for a spot ETH ETF in June 2023. The ETF, if approved, would invest in ETH and would be listed on the Nasdaq. Futures ETFs VanEck: VanEck filed an application for an ETH futures ETF in January 2023. The ETF, if approved, would invest in ETH futures contracts traded on the CME. Bitwise Asset Management: Bitwise filed an application for an ETH futures ETF in January 2023. The ETF, if approved, would invest in ETH futures contracts traded on the CME. Invesco: Invesco filed an application for an ETH futures ETF in April 2023. The ETF, if approved, would invest in ETH futures contracts traded on the CME. Galaxy Digital: Galaxy Digital filed an application for an ETH futures ETF in April 2023. The ETF, if approved, would invest in ETH futures contracts traded on the CME. Are there any Ethereum ETFs Approved by the US SEC? The SEC has not yet approved any spot ETH ETFs but the US SEC has approved a Futures ETF. Volatility Shares was the first company to have an ETH futures ETF approved by the SEC. The ETF, called the Ether Strategy ETF (ETHU), began trading on the NYSE on October 2, 2023. Ethereum ETF Latest News As per TheStreetCrypto’s Austin Arnold ETH price could reach $42,000 following approval of a BlackRock ETF. He added that a more likely increase could eventually bring ETH to $28,000, but that for this market cycle, $10,000 ETH is the most realistic scenario. How High Will ETH Reach After Spot ETH ETF? Ethereum price recently surged recently after Blackrock confirmed that it has filed for spot Ethereum ETF. Following the news, ETH’s price surged to its highest level of the day near $2,100. However, predicting the exact price surge of Ethereum (ETH) following the approval of a US Securities and Exchange Commission (SEC) Ether (ETH) exchange-traded fund (ETF) is challenging. Yet, various indicators hint at a potentially substantial increase in ETH’s value post-ETF approval. Approval of an ETH ETF could trigger amplified demand as investing in ETH becomes more accessible, potentially escalating its price. This endorsement by the SEC would validate ETH as a credible investment asset, potentially enticing more institutional adoption and consequent price surges. Drawing from the precedent set by Bitcoin (BTC) futures ETFs in 2021, which substantially boosted BTC’s price, a similar effect on ETH’s price could follow the approval of an ETH ETF. Therefore, Ethereum’s price could double after the approval of spot ETH ETF by the US SEC.

Share This Article
By admin
test bio
Leave a comment
Please login to use this feature.