Green

Nirvana

James

As the date of the final decision on the approval of the spot ETH ETF approaches, expectations for the approval have increased substantially, from 25% to 75%, as reported by Cillionaire.com. 
The increase is the result of ongoing discussions and developments with the SEC. The final decision is scheduled for May 23rd. The increased probability shows a potential green light for the spot ETFs and it could be a major turning point for the entire crypto industry. 
The ETH ETF on approval is expected to attract similar inflow trends and growth as BTC ETFs experienced in the last five months of trading. It is also expected to boost the price of ETH and follow a lasting bull run for the major crypto tokens. 
<h2 class="wp-block-heading" id="strong-what-will-eth-etfs-offer-strong">What will ETH ETFs offer?</h2> 
The approval of ETH ETFs will offer various benefits to the users: 
<ul> 
 <li>Easier Access for Non-crypto Users: Users will not need a crypto exchange or deal with complex wallets and it can be bought through a regular brokerage account.</li> 
</ul> 
<ul> 
 <li>Increased Legal Consideration: The approval from the SEC will enhance confidence and trust in the ETH and crypto markets as a whole. The increased trust and transparency will attract more institutional investors, as it can be considered a safer entry point.</li> 
</ul> 
<ul> 
 <li>Expected Bull Run: It will increase the demand for tokens as well from the new range of investors. It can significantly increase the trading price of Ether.</li> 
</ul> 
<ul> 
 <li>Domino effect on the crypto market: Ethereum being the king of altcoins will pull up the prices of other altcoins as well, with the former following a lasting bull run. With this, the whole crypto market is expected to experience a major boost in the coming months.</li> 
</ul> 
The probable approval of a spot ETH ETF is expected to be a game changer for the industry as it improves accessibility, transparency, legal authentication and an expected price surge for overall crypto investing. 
<h3 class="wp-block-heading" id="strong-ongoing-bullish-perspective-and-upcoming-bull-run-strong">Ongoing Bullish Perspective and Upcoming Bull Run</h3> 
With the increase in the probability of the approval outbreak reaching the public market, ETH experienced a significant rise in demand and prices.&nbsp; 
At the time of writing, ETH is trading at $3,791.68, 22.50% up from the previous day, which was before the news outbreak. The substantial price rise is expected to continue with approval for the next few months. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large is-resized">
 <img loading="lazy" decoding="async" width="1024" height="702" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-267-1024x702.png" alt="" class="wp-image-206393" style="width: 100%;height:auto" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-267-1024x702.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-267-300x206.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-267-768x527.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-267-750x514.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-267.png 1059w" sizes="(max-width: 1024px) 100vw, 1024px">
 </figure>
</div> 
Source: Investing.com 
The ETH index is expected to break its yearly high of $4090 in the coming weeks. Moreover, market analysts are expecting ETH to follow a similar trend with that of BTC as BTC increased by 75% since the approval of <a href="https://www.thecoinrepublic.com/2024/05/02/btc-etfs-reported-significant-outflows-of-563-7m-on-may-1st/" target="_blank" rel="noreferrer noopener">BTC ETFs.&nbsp;</a> 
With this background, ETH is expected to break its high that was marked in July 2023 at $6,446. 
<center>
 <blockquote class="twitter-tweet">
 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> rallied 75% in 63 days after the spot ETF was approved. If <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> follows the same trend (if approved), this would take it to $6,446 by July 23. <a href="https://t.co/FfWg9VGUMx">pic.twitter.com/FfWg9VGUMx</a>— Miles Deutscher (@milesdeutscher) <a href="https://twitter.com/milesdeutscher/status/1792784820113965489?ref_src=twsrc%5Etfw">May 21, 2024</a>
 </blockquote> 
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</center> 
<h3 class="wp-block-heading" id="strong-eth-etfs-strong">ETH ETFs</h3> 
Standard Chartered shared on the X that it expects a significant inflow in the first year of the launch of the ETH ETF, which is expected to occur by the end of this week. It is expected that an inflow of $15- $45 Billion in the next year will spread across all instruments that are expected to be approved. 
<center>
 <blockquote class="twitter-tweet">
 I think me comparing Ether ETFs following Bitcoin ETFs to a concert where Sister Hazel comes on after Nirvana is prob why a few ppl coming at me on this and that's ok. Maybe that was harsh but I still see the ether etfs getting 10-15% of the assets of the btc ETFs (altho James is…— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1792885274311037167?ref_src=twsrc%5Etfw">May 21, 2024</a>
 </blockquote> 
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</center> 
Whereas, Eric Balchunas, a popular ETF analyst, is expecting that the anticipated inflow in the ETH ETF will extract 10-15% of investments in the BTC ETF. Stated differently, he is expecting that with the increase in inflows in the ETH ETF, the BTC ETF will experience an outflow as the funds will travel from one to another. 
Moreover, Fidelity, a probable ETH ETF applicant, has updated its application. The update includes the removal of staking rewards from the submitted SEC filing.

ETH ETF: A Probable Green Signal, Highlighting Bull Run

Table of Contents

Thecoinrepublic.com

Other articles published on May 21, 2024

Ethereum Holdings Soar to Record $14 Billion

Will Bitcoin Correct Like in 2019?

Ethereum ETFs Shape Crypto Market

$70,000 Bitcoin (BTC) and $3,600 Ethereum (ETH) Push Liquidations to $260 Million

Will Ethereum Hit $4000 Amidst Approval Hurdles for ETH ETFs?

Investors Anticipate ZkSync Airdrop Event

Join our free newsletter for daily crypto updates!