US Spot Ethereum ETF

[dansus021]

Yeah but after SEC approved the Bitcoin ETF there is not much changes on the price of the bitcoin at least for now, Im little bit skeptical about any ETF related especially after people on twitter said when SEC approve the Bitcoin ETF the price might touch 50-100K in no matter of day but here we are after the list of etf bitcoin is down at the moment.

[1714518758]

1714518758

[Bounty Bro]

Ethereum is up to be next to be a confirmed ETF applicant.
It will be an important milestone for Ethereum to compete against Bitcoin because Bitcoin is already approved.
If Ethereum wants to stay close to Bitcoin, it should hurry up to get an ETF approved.

[zasad@]

https://www.theblock.co/post/275718/hong-kong-finance-firm-vsfg-targets-to-apply-for-spot-ethereum-etf-in-q2
"VSFG said it aims to submit an application for a spot Ethereum ETF in Hong Kong in the second quarter if it successfully launches spot bitcoin ETF in the first quarter.

Venture Smart Financial Holdings Ltd. (VSFG), a Hong Kong-based financial services firm, is preparing to apply for a spot Ethereum exchange-traded fund (ETF) in anticipation of potentially launching its spot bitcoin ETF in the first quarter.

In a Friday interview with The Block, VSFG Chairman Lawrence Chu said that the firm is in the final phase of officially submitting its application for a spot bitcoin ETF to the Hong Kong Securities and Futures Commission."

[yazher]

Ethereum is up to be next to be a confirmed ETF applicant.
It will be an important milestone for Ethereum to compete against Bitcoin because Bitcoin is already approved.
If Ethereum wants to stay close to Bitcoin, it should hurry up to get an ETF approved.

If they can manage to get the approval this year then they become the second most recommended investment in cryptocurrencies these days because that would make their project trustworthy to the investors and after that, surely there will be lots of companies will adopt and implement ETH to their company as they see some genuine business and potential profit with it. All the owner needs to do this time is to make it serious when it comes to the approval of ETH and not make any serious update yet in order to make ETH still at the top whenever plan A fails and despite that, they will gonna announce whatever innovative plans they have to cover their failure.

[justdimin]

Ethereum is up to be next to be a confirmed ETF applicant.
It will be an important milestone for Ethereum to compete against Bitcoin because Bitcoin is already approved.
If Ethereum wants to stay close to Bitcoin, it should hurry up to get an ETF approved.

If they can manage to get the approval this year then they become the second most recommended investment in cryptocurrencies these days because that would make their project trustworthy to the investors and after that, surely there will be lots of companies will adopt and implement ETH to their company as they see some genuine business and potential profit with it. All the owner needs to do this time is to make it serious when it comes to the approval of ETH and not make any serious update yet in order to make ETH still at the top whenever plan A fails and despite that, they will gonna announce whatever innovative plans they have to cover their failure.

I would say that it would be quite difficult to handle something like that, it has to be something that will be very hard to handle, and it should not really be all that easy to make that work. I get that we are still dealing with BTC and that makes people question the possibility of this but that doesn't mean that we are not going to end up with anything like ETH because ETF of it would still be possible and should be something that will benefit everyone.

I think it has to be something that will benefit everyone. The more the merrier, we need more ETF's in the market, for btc and for eth and whatever else to be fair. It would mean that we are going to get a lot more people to invest into something that would be helping us.

[zasad@]

https://www.msn.com/en-us/money/markets/hot-new-bitcoin-funds-could-soon-have-rivals/ar-BB1iXnFX
"Wall Street firms launched bitcoin exchange-traded funds just a few weeks ago. Now, they want to offer everyday investors funds holding a smaller and more volatile crypto asset.

At least 10 firms including BlackRock and Fidelity Investments have filed applications to launch what would be the first U.S.-listed ETFs holding ether, the second-largest cryptocurrency. As with bitcoin and other ETFs, the firms would earn management fees for any investments people make.

Ether, the in-house token on the Ethereum blockchain, surged above $3,200 Tuesday for the first time since April 2022 in anticipation of the potential approvals. That gave it a market cap of about $390 billion, compared with bitcoin’s more than $1 trillion valuation."

[GoldMagic]

I think if it benefits each other, there is no problem.
Moreover, we know that this adoption has been well predicted.
investors will welcome it happily.

[Bushdark]

The Ethereum ETF was a dream come through because there are many people that had been anticipating for the confirmation of the approval. Finally we can now start seeing the price of Ethereum going bullish so that we can keep making profits from it.
This is going to make the price of Ethereum and Bitcoin to move along with bigger profits to investors holding it for the future.
We can always await the commencement of the ETF.

[tyz]

Just saw this interesting graphic. Just did some research and the figures seem to be correct. Alone yesterday, Bitcoin spot ETFs bought more than 10k Bitcoins, while only around 900 new Bitcoins were mined. This means that over 9k Bitcoins had to be bought on the market. If this continues, we will now see daily increases.

[Bureau]

Just saw this interesting graphic. Just did some research and the figures seem to be correct. Alone yesterday, Bitcoin spot ETFs bought more than 10k Bitcoins, while only around 900 new Bitcoins were mined. This means that over 9k Bitcoins had to be bought on the market. If this continues, we will now see daily increases.

After watching this graphic I am convinced that if Ethereum spot ETF gets approved then the price of Ethereum will spike in the same manner. Bitcoin getting pumped is all because of Bitcoin spot ETF and I do not see any other factor responsible for this sudden bull run. Everyone was expecting a bull run to come after the approval, it took some time and it has been going on for a few weeks now. The Ethereum spot ETF should get approved by May and imagine how Bitcoin and Ethereum will then perform in the market.

[zasad@]

https://cointelegraph.com/news/sec-delays-ethereum-etf-applications-blackrock-fidelity
"SEC pushes back BlackRock, Fidelity spot Ethereum ETF proposals
The SEC has again delayed its decision on spot Ethereum ETF applications from BlackRock and Fidelity as analysts continue to tip May as the month to watch."

___
I have no doubt that BlackRock and Fidelity will achieve their goals. But I have big doubts about other cryptocurrencies and the SEC will severely punish other large projects.

[OgNasty]

https://cointelegraph.com/news/sec-delays-ethereum-etf-applications-blackrock-fidelity
"SEC pushes back BlackRock, Fidelity spot Ethereum ETF proposals
The SEC has again delayed its decision on spot Ethereum ETF applications from BlackRock and Fidelity as analysts continue to tip May as the month to watch."

___
I have no doubt that BlackRock and Fidelity will achieve their goals. But I have big doubts about other cryptocurrencies and the SEC will severely punish other large projects.

If Blackrock wants it to happen, it will happen.  That's just the way the finance world works when you own everything.  For this reason, I too believe that there will one day be a spot Ethereum ETF.  Maybe not as soon as this year, but it will happen.  Too many wall street folks were involved in Ethereum for it not to follow in Bitcoin's footsteps.  I wouldn't go selling your BTC for ETH, but if you've got fresh money looking for a spot to sit, grabbing some ETH and leaving it staked isn't the worst idea.  I think of my ETH holdings like a stock and have some exposure like I do with many companies, but it pales in comparison to my exposure to Bitcoin.

[wheelz1200]

Price aside I just saw another thread with Solana being asked if they will get etf approvals lol.  Eth has a better shot but the SEC typically doesn't have a large appetite to expose the public with highly volatile assets that could plummet their wealth quickly.  It took bitcoin a long time to soften them up its gonna be way longer than just a couple of quarters.

[zasad@]

https://twitter.com/EricBalchunas/status/1767204301372297274
"Yeah our odds of eth ETF approval by May deadline are down to 35%. I get all the reasons they SHOULD approve it (and we personally believe they should) but all the signs/sources that were making us bullish 2.5mo out for btc spot are not there this time. Note: 35% isn't 0%, still poss, and and long-term we think it will happen."

[zasad@]

https://twitter.com/EleanorTerrett/status/1771188774606676164

"BlackRock’s Head of Digital Assets Robert Mitchnick addresses how the asset manager is thinking about other #crypto products:

“For our clients, Bitcoin is overwhelmingly the number one priority. And then a little bit ethereum, and very little everything else.”

He says the crypto community would like to see a long tail of other crypto products from BlackRock, but he says “that’s just not where we’re focused.”"

___
If the crypto community is asking .. then it will be

[electronicash]

https://twitter.com/EleanorTerrett/status/1771188774606676164

"BlackRock’s Head of Digital Assets Robert Mitchnick addresses how the asset manager is thinking about other #crypto products:

“For our clients, Bitcoin is overwhelmingly the number one priority. And then a little bit ethereum, and very little everything else.”

He says the crypto community would like to see a long tail of other crypto products from BlackRock, but he says “that’s just not where we’re focused.”"

___
If the crypto community is asking .. then it will be

are they trying to prevent people from buying ETH? their investors would love ETH since staking ETH will make them more money. this has got to be more attractive to them than BTC.

it's not convincing that they are asking whether the crypto community will request it when they already filed a spot ETF. if they were not interested, they would have just ignored ETH but the fact that there are currently 8ETH ETFs to be approved means they are interested.

[zasad@]

https://www.theblock.co/post/289452/crypto-etfs-other-than-bitcoin-and-ethereum-funds-will-100-be-approved-grayscale
Crypto ETFs other than Bitcoin and Ethereum funds will '100%' be approved: Grayscale
"Grayscale’s global head of ETFs, David LaValle, said he’s “100%” confident that exchange-traded funds based on other cryptocurrencies, aside from Bitcoin and Ethereum, will eventually be available to investors.
The firm currently manages the GBTC fund, the largest spot bitcoin ETF on the market."

[tengui]

currently the price of ETH is around $3k and I think the effect of the increase in the price of bitcoin due to the halving could bring ETH to reach $3500. I mean in the current situation this kind of news is not one of the reasons why the price of ETH is rising, and even if the price of ETH is rising because of this news maybe some people will think that the increase in the price of ETH is because of the bitcoin halving effect.

[Sayeds56]

https://www.coindesk.com/markets/2024/01/12/blackrock-ceo-larry-fink-backs-ether-etf/
"BlackRock CEO Larry Fink Backs Ether ETF
The asset management giant may now be looking to list an equivalent product for ether, the native token of the Ethereum blockchain, as part of its ongoing journey toward tokenization."

If BlackRock is interested, at this rate we could see it in a few quarters. Ethereum price could rise to $3,500

It is interesting to note that major financial institutions like BlackRock is supporting Ethereum ETF, indicating a potential move towards tokenization of Real world Asset (RWA), which is a lucrative sector for investment ,and drawing attention of many financial institution. In anticipation of such developments coupled with growing interest of institutions, it is possible that Ethereum could reach or even exceed $3500.

[el kaka22]

Honestly ETH situation could be a little different, it is still decentralized but Vitalik is alive and we know where he is and he could make things change in the ETH world, such as POW to POS situation was his brain child and he promoted it like crazy and took years to build it but we have it now.

I am not saying that it is different and ETF for ETH should not happen, of course it could still happen and as long as big companies wants it, they could make it work. But that doesn't mean that we should be expecting it to happen quickly, we could have some different solutions. The situation that we are looking at right now would just mean that we are going to have a different road until we get there and could be more difficult.