An Ethereum Futures ETF Could Be Approved Before Bitcoin, Analysts Say
Analysts are predicting that the US Securities and Exchange Commission (SEC) could approve an Ethereum futures exchange-traded fund (ETF) before a Bitcoin ETF. The Bloomberg ETF analysts argue that Ethereum has a higher chance of receiving approval, with a 75% probability compared to Bitcoin’s 65%. Analyst Eric Balchunas goes even further, placing the odds of an Ethereum futures ETF approval at 95%. This prediction is based on the surge of Ethereum-related ETF applications, with 12 applications currently filed. ProShares and Bitwise, industry heavyweights, have filed seven applications focused on Bitcoin and Ethereum.
- Ethereum has a higher chance of receiving ETF approval compared to Bitcoin
- Analysts predict a 75% chance of an Ethereum ETF approval
- ProShares and Bitwise have filed seven applications for Bitcoin and Ethereum ETFs
- Bitcoin still holds a prominent position in the market
- Bitcoin’s ETF prospects are driven by finance behemoths and the ongoing Grayscale lawsuit against the SEC
Despite Ethereum’s potential lead, Bitcoin remains an internationally recognized asset. Wall Street icon Cathie Wood believes that multiple Bitcoin ETFs are likely to be approved simultaneously. The increased activity in the ETF space has led to slight price movements for both cryptocurrencies, with Bitcoin experiencing a 0.5% increase and Ethereum seeing a 0.35% rise. Bitcoin’s global relevance is emphasized by BlackRock’s significant stake in MicroStrategy, a company known for holding substantial Bitcoin reserves.
Hot Take: While an Ethereum futures ETF approval could be a significant development, Bitcoin’s position as the international asset of choice remains strong.
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