According to Bloomberg ETF analyst James Seyffart, there is a good chance that an Ethereum spot exchange-traded fund (ETF) will be launched in 2024. This emerges from an analysis by the American Securities and Exchange Commission (SEC), according to an SEC analyst.
Ethereum price peaks in 2023 after a surprising comeback
Ethereum news
Ethereum ETF this year
The SEC commodities analyst, whose name was not disclosed, appears to have picked up positive signals regarding the approval of an Ethereum ETF. This development comes at a time when the ETF market is becoming a more common topic in the cryptocurrency world and the Bitcoin ETF is just around the corner.
The SEC analyst believes it is very likely that the Ethereum ETF will debut in 2024. Last year, the SEC recognized Ether (ETH) as a commodity when it approved exchange-traded funds (ETFs) based on Ether futures. According to Seyffart, this suggests that the launch of a spot ETF variant is likely to happen later this year.
An Ethereum ETF would allow investors to directly participate in Ethereum price movements without owning the digital currency itself. This can be an attractive option for institutional investors looking for diverse investment opportunities in their portfolio.
Seyffart predicts imminent developments
During a webinar, Seyffart alluded to the approval of Ether futures ETFs in October 2023. He noted that the SEC did not challenge the coin’s classification during the ETF registration process Commodity Futures Trading Commission (CFTC).
“The CFTC has no hesitation in calling Ethereum a commodity. They don’t call them securities,” the Bloomberg analyst begins in the closed webinar on January 4th.
“The SEC has approved Ethereum futures ETFs. Again, Gary Gensler (SEC Chairman) will not explicitly say whether Ethereum is considered a security or a commodity, but by approving these Ethereum futures ETFs, they are implicitly accepting these Ethereum futures as commodity futures contracts.”
Post views: 0