Ethereum has surpassed $3,900, reaching $3,920 at the time of writing, in anticipation of the imminent spot ETF decision.
The Securities and Exchange Commission (SEC) is expected to announce its decision around 4 PM New York time, 9 PM in London. All ETF applications, including those from BlackRock, Fidelity, and others, are anticipated to receive approval.
While amended 19b-4 forms have been filed by all applicants, BlackRock has not yet filed an amended S/1, unlike Fidelity. This suggests that trading may commence no earlier than Monday, as issuers and the SEC finalize S/1 amendments. Notably, iShares' S/1 remains unchanged since its filing in November last year.
In contrast to Bitcoin's direct court ruling, Ethereum's approval process has been met with more uncertainty, despite similar legal principles. As a result, issuers have not yet disclosed the purchase of seed ETH.
Fees for Ethereum ETFs are expected to be around 0.2%, with WisdomTree's new Ethereum spot ETP in London set to commence trading on Tuesday with a 0.35% fee.
The integration of Ethereum and Bitcoin into traditional finance marks a significant milestone, leveling the playing field between the two assets and setting them apart from other cryptocurrencies. This regulatory approval signifies a significant boost for Ethereum, potentially reshaping the digital assets landscape for years to come.
Conclusion: Ethereum and Bitcoin Integration into Traditional Finance
As the crypto space awaits the official approval, the impending ETF decision underscores the increasing convergence of digital assets with the stock market. With Ethereum poised to follow Bitcoin's footsteps in traditional finance, the market eagerly anticipates the next phase of crypto's evolution.