The Approval of Ethereum ETFs is Highly Likely, but BlackRock’s Chances are Uncertain
Ethereum (ETH) exchange-traded funds (ETFs) have a 75% chance of approval by May, according to an analyst at GSR. This optimistic outlook is based on Grayscale’s recent Court of Appeals victory and the subsequent approval of Ethereum Futures ETFs. However, BlackRock’s chances of launching a spot Ethereum ETF are less certain.
GSR Analyst Predicts High Chance of Approval for ETH ETFs
An analyst at GSR predicts that Ethereum ETFs have a 75% chance of approval by May. This positive outlook is based on two key factors:
- Grayscale’s Court of Appeals victory
- Approval of Ethereum Futures ETFs
These developments suggest that the approval of a spot Ethereum ETF is only a matter of time.
BlackRock Leading the Way in Crypto ETFs
BlackRock, the world’s largest asset manager, has been at the forefront of cryptocurrency ETFs. The company launched its IBIT Bitcoin ETF in January, which has attracted $12.7 billion worth of bitcoin since its inception. It currently holds a 47% market share in spot bitcoin ETF trading volumes.
BlackRock has also applied to launch a spot Ethereum ETF. However, the Securities and Exchange Commission (SEC) has not yet approved their application. The chances of approval for BlackRock’s Ethereum ETF by May are uncertain.
Meet the GSR Analyst Behind the Predictions: Tim Kunke
The analyst at GSR who made these predictions is Tim Kunke. Before joining GSR, Kunke led the crypto research vertical at Global X ETFs and served as a portfolio manager on the Blockchain & Bitcoin Strategy ETF. He has also worked at JPMorgan and Credit Suisse.
Hot Take: Ethereum ETF Approval Highly Likely, BlackRock’s Chances Uncertain
Based on recent developments in the cryptocurrency market, it is highly likely that Ethereum ETFs will be approved by May. Grayscale’s Court of Appeals victory and the approval of Ethereum Futures ETFs indicate a positive trend towards the approval of a spot Ethereum ETF. However, BlackRock’s chances of launching a spot Ethereum ETF are uncertain, as their application is still pending with the SEC.
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