Ethereum ETF: Community Waiting

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Ethereum ETF

Due to the appearance of funds for bitcoin futures, investors began to wonder which currency would be next in line. And it is obvious that this will become Ethereum, since it is the second largest cryptocurrency and it has the greatest chances of this.

Several of the market leaders are already confident that the Ethereum ETF is only a matter of time. Crypto investor Lark Davis, who is responsible for the Wealth Mastery newsletter, is positive about the prospects of a new investment instrument on Ethereum. He noted how the price of Ether was "pumped up" following the development of bitcoin futures, saying: «Just wait until they announce the ETH ETF!».

Set of activities

VanEck and ProShares submitted applications to regulatory authorities this summer for their own Ethereum futures ETFs. It turns out that Ethereum futures are not so long to wait.

However, both firms refused to consider them. The SEC has several other applications for Ethereum funds that are based on the prices of the Ether spot market, including from Kryptoin investment consultants and Gemini trust company.

Nothing is clear yet and it is not clear exactly how the regulatory authorities will classify the cryptocurrency. But the SEC made it clear to us that they do not consider Ether as a safe coin. SEC Chairman Gary Gensler favors cryptocurrency futures ETFs, not spot market funds. If the Ethereum ETF comes out, it could potentially follow a model similar to the ProShares bitcoin strategy, which is based on Bitcoin futures.

The Rise of Ethereum

Ethereum ETF is not such an unrealistic story, taking into account the dominance of the coin at 18.4% on CoinMarketCap. At the same time, Ethereum has increased in price by 400% this year alone, due to the increased popularity of NFT tokens and decentralized finance (DeFi).

ethereum futures

The Fundstrat analyst believes that Ethereum will soon be able to grow and cross the $4,900 limit. Currently, the cryptocurrency is trading at $ 4,100.

In conclusion, Ethereum has great chances for futures after bitcoin and it's probably just a matter of time. We are waiting for new news from the ETF information field and perhaps a question on the topic of ether futures will be opened soon.

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