In the last few days, some decisively important news has come out regarding spot Ethereum ETFs.
Tutte fanno pensare che la SEC sia pronta per approvarli.
Summary
The latest news: The approval of the SEC of spot Ethereum ETFs
Until a few days ago, it was believed likely that the SEC would reject the requests to issue spot Ethereum ETFs in the USA.
In fact, the agency has long maintained that Ethereum should be considered an unregistered security, and not a commodity like Bitcoin.
Despite this, however, some events have occurred that instead suggest that it may have somehow changed its mind.
In primo luogo, la stessa SEC has asked agli emittenti di effettuare delle modifiche urgenti in vista della scadenza di domani.
As with the requests for ETF su Bitcoin spot, it is very likely that in case of approval the SEC will opt for a mass approval of all requests. The first one expiring, that of VanEck, expires tomorrow, so the agency by tomorrow will be obliged to give a response, affirmative or negative.
In the case where it was oriented towards a negative response, it would hardly have asked for urgent modifications from the applicants, as happened, for example, shortly before the approval of the ETFs on Bitcoin spot.
Among the applicants who have already managed to submit the updated application by gathering feedback from the SEC are VanEck, Fidelity, Grayscale, ArkInvest, Franklin, and Invesco Galaxy.
For these reasons, many financial institutions have already indicated that they consider approval likely.
Crypto news: The listing on the DTCC of spot Ethereum ETFs
Today it was revealed that ETHV, that is precisely VanEck’s spot Ethereum ETF whose application expires tomorrow, has been listed on the DTCC.
Although this is only a technical act preparatory to the actual listing on the stock exchanges, some still interpret it as a good sign, because it means that the issuer is convinced that the approval will come.
Not knowing yet precisely when, and if, such approval by the SEC will occur, it is still not even clear when the listing on the exchanges will happen, although regarding the Bitcoin ETFs, it already happened the day after the approval.
In the meantime, the approval from the British FCA has arrived for the listing of the ETPs on Ethereum on the London Stock Exchange.
Dopo essere sbarcati alla borsa di Hong Kong a fine aprile, ora saranno sicuramente disponibili anche sulla seconda maggiore borsa valori europea.
The ETF on Bitcoin
Meanwhile, the ride of ETFs on Bitcoin spot on the US exchanges, which started on January 11, continues.
As of today, all ETFs, or similar products, in the world collectively have come to possess more than one million BTC, or more than one twentieth of all the Bitcoin in existence worldwide (5.1%).
Anche negli ultimi giorni hanno fatto registrare afflussi positivi di capitali, tanto che ad esempio il solo ETF di Grayscale ora ha un AUM di oltre 20 miliardi di dollari, seguito da quello di BlackRock con 19,3 miliardi.
However, taking the Hong Kong stock exchange as a reference, where on April 30 both Bitcoin and Ethereum ETFs were launched, it is discovered that the trading volumes of the latter are significantly lower.
During the month of May, the ETFs on ETH denominated in dollars accumulated just over $450,000 in trading volumes, while those on BTC exceeded 6 million.
So even regarding the US stock markets, it is to be expected that the trading volumes of the new spot Ethereum ETFs may not even be comparable to those on Bitcoin, also because these debuted with a bang in January.
The price of ETH
In the meantime, the price of ETH yesterday climbed back above $3,800, a level it hadn’t seen since March 15.
Tuttavia la risalita degli ultimi giorni da circa 3.100$ a 3.700$ non sembra aver prezzato del tutto l’eventuale approvazione degli ETF.
It should not be forgotten that while the price of Bitcoin is only 5 percentage points away from the mid-March highs, the price of ETH is still at -10% from the annual highs of just over two months ago.
Furthermore, at this point, many are expecting a return above $4,000 if the news of the approval is confirmed.
Moreover, the all-time high of November 2021 was recorded at almost 4,900$, so the potential of ETH in the medium term still seems decidedly good.
