Ethereum Set to Secure Spot ETF Approval After Bitcoin: Bernstein
Wealth management firm Bernstein predicts that Ethereum (ETH) may be the next digital asset to secure approval for a spot ETF, following in the footsteps of Bitcoin (BTC). In a research paper, Bernstein discusses Ethereum’s prospects, highlighting staking rewards, potential institutional inflows, and the likelihood of an ETF approval. The firm suggests that there is a 50% chance of an ETH ETF approval by May, with almost certain probability by the end of the year. Ethereum’s decentralized finance ecosystem and leading smart contract network make it attractive to institutional investors. Several major firms, including BlackRock and Grayscale, are seeking SEC approval for an Ethereum ETF.
Moves Toward an Ethereum ETF
This year has seen increased interest in a spot Ethereum ETF. Following the approval of Bitcoin spot ETFs by the SEC, analysts believe that ETH will be next. Big-name firms such as BlackRock, VanEck, Hashdex, and Grayscale are seeking approval from the SEC. Franklin Templeton has recently joined the race for an ETH ETF approval as more investors turn their attention to this second-ranked asset. However, it is likely that only Bitcoin and Ethereum will secure approval for an ETF.
Investors Eye Ethereum Growth
Although Bitcoin’s growth has outpaced Ethereum in recent months, commentators remain optimistic about ETH’s growth prospects. Institutional firms have identified Ethereum as having significant growth potential. Coinbase market research also indicates momentum building for Ethereum as more firms consider a spot ETF. At present, ETH is trading at $2,912 with a 7.2% growth over the past week.
Hot Take: Ethereum Poised for Spot Crypto ETF Approval
Ethereum’s position as the next digital asset to secure approval for a spot ETF after Bitcoin is highly likely, according to wealth management firm Bernstein. With its staking rewards, institutional utility, and environmentally friendly design, Ethereum is well-positioned for mainstream institutional adoption. The increased interest from major firms in securing SEC approval for an Ethereum ETF further supports this prediction. As more investors recognize the growth potential of Ethereum and its leading position in the decentralized finance ecosystem, it is expected that Ethereum will be the only other cryptocurrency to secure a spot ETF approval.
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