TL;DR
1.De Patoul Optimistic on Ether ETFs, Yet Regulatory Hurdles Loom.
2.Ether ETFs: Industry Focus Shifts Amidst Speculation and Analyst Projections.
3.De Patoul Flags Regulatory Challenges for Ether ETFs Amidst SEC Scrutiny.
4.Ether ETF Interest Surges as Price Breaks $3,000 Barrier; Dencun Upgrade Bolsters Momentum.
Kevin de Patoul, CEO of digital asset market maker Keyrock, shared insights on the potential approval of spot Ether exchange-traded funds (ETFs) in an exclusive interview with Cointelegraph on Feb. 23. De Patoul emphasized that while the approval of Ether ETFs is not certain, the likelihood is higher than 50%, indicating ongoing uncertainty in the regulatory landscape.
De Patoul expressed optimism about the acceptance of Ether ETFs, citing a higher than 50% probability. However, he cautioned against considering it a "done deal," underscoring the challenges ahead in securing regulatory approval.
With Bernstein suggesting Ether as a potential candidate for ETF approval this year, the spotlight has shifted to Ether ETFs in the cryptocurrency industry. JPMorgan and Bloomberg analysts also foresee a significant chance of Ether ETF approval by May 2024, further fueling anticipation.
Chance of an Ether ETF approval. Source: Polymarket
De Patoul highlighted challenges akin to those faced in obtaining approval for the first spot Bitcoin ETFs in the United States. One primary concern is the potential classification of Ether as a security by SEC Chairman Gary Gensler. While de Patoul believes Ether does not constitute a security, the transition to a proof-of-stake consensus model post-merge could raise regulatory scrutiny.
Interest in Ether ETFs surged after Ether surpassed the $3,000 psychological price level for the first time in 22 months on Feb. 20. De Patoul attributed Ether's recent price momentum to excitement surrounding potential spot ETF approval and the upcoming Dencun upgrade. The Dencun upgrade is expected to enhance scalability and reduce gas fees, enhancing Ethereum's value proposition.
De Patoul's insights shed light on the anticipation surrounding Ether ETF approval, tempered by regulatory uncertainties and potential hurdles. While prospects appear favorable, ongoing developments in regulatory frameworks and Ethereum's evolution will shape the path to Ether ETFs approval.
Of the 27 Ethereum ETFs in the world, 20 are Ethereum spot ETFs and 7 are Ethereum futures ETFs. The top 10 global Ethereum ETFs all trade in Canada or Europe.
JinseFinanceSEC extends deliberation on Fidelity's Ether ETF to March 5, citing need for additional time. Simultaneously, surge in filings for leveraged Bitcoin ETFs creates divergence in market opinions on Ether ETF approval.
Huang BoAnalytics firm IntoTheBlock suggests that traders are anticipating the approval of a spot market exchange-traded fund (ETF) for Ethereum (ETH) following the recent "fake" approval announcement of spot-based Bitcoin ETFs. Ethereum has outperformed Bitcoin by over 10% since the fake announcement, signaling traders' expectations for Ethereum ETF approvals. IntoTheBlock's analysis indicates that the SEC's approval of spot Bitcoin ETFs could pave the way for a similar approval for Ethereum, as both are subject to potential manipulation.
EdmundThe U.S. SEC will make decisions and approve five Ethereum spot ETFs before the end of May, but it may be postponed to August to make a final decision.
JinseFinanceEthereum's price surged 10% to $2,600 after U.S. spot Bitcoin ETF approval. Expectations rise for spot Ether ETFs as companies like Ark 21 Shares and BlackRock file proposals.
Huang BoGolden Finance launches the 2203rd issue of the cryptocurrency and blockchain industry morning report "Golden Morning 8:00" to provide you with the latest and fastest digital currency and blockchain industry news.
JinseFinanceJinseFinanceProShares CEO Michael Sapir stated that the new ETF was created specifically to help people short ETH.
ClementProShares, VanEck, and Bitwise have all introduced futures-based ETFs
AlexSamsung Asset Management (Hong Kong) Limited (“SAMHK”) announced that it will launch the first Asia-Pacific metaverse theme actively managed ETF in Hong Kong in July, named Samsung Asia Pacific ex NZ Metaverse Theme ETF (stock code: 3172.HK ).
Cointelegraph