Bloomberg analyst: Ethereum spot ETF may be listed on July 2! But experts cast aside concerns

This site (120btC.coM): After the U.S. Securities and Exchange Commission (SEC) approved the 19b-4 trading rule change document for 8 Ethereum spot ETFs on May 24, The market is continuing to pay attention to when another S-1 registration statement document, which is key to listing, will be approved by the SEC?

When SEC Chairman Gensler attended the budget hearing this week, he relaxed for the first time, "My idea." It will be sometime this summer..."

Bloomberg Analyst: Ethereum spot ETF may be listed on July 2

And just in the early hours of this morning, I have been following ETF trends closely. Bloomberg analyst Eric Balchunas wrote: We will advance the launch date of the Ethereum spot ETF to July 2. I heard that today the staff (SEC) provided comments on Form S-1 to the issuer. These comments are brief and have no major issues, and they require a response within a week. There's a decent chance the ETFs will be formally approved next week and the matter resolved before the holiday weekend. Anything is possible, but this is our best guess right now.

Balchunas’ previously expected launch date was July 4th. There has not been much change so far. It seems that the progress is continuing.

Expert: Unless the Ethereum spot ETF supports staking, it will have limited appeal to institutions

On the other hand, how much capital inflow the Ethereum spot ETF can attract after it is listed is also the focus of the market. . In this regard, cryptocurrency derivatives trader Gordon Grant recently commented: Unless staking is supported, the Ethereum spot ETF will have limited appeal to institutional investors, and many may wait until the staking is approved before allocating funds to the fund.

Grant added that unlike Bitcoin, directly holding ETH may provide better return performance for institutional investors than holding Ethereum spot ETFs. Therefore, he believes that before the launch of the pledged Ethereum spot ETF, institutional investors are more likely to choose on-chain solutions (that is, directly purchase Ethereum spot).

Institutions Cancel Ethereum Staking Plan

Dongzhong has reported many times that the currently applied for Ethereum spot ETFs have been canceled due to regulatory uncertainty and the SEC’s opposition to staking activities. Staking plan.

Grant is not the first to make this statement. At the end of May, JPMorgan Chase issued a report stating that the lack of collateral for approved Ethereum spot ETFs would make these products less attractive as investment products. The report reads that because ETFs have removed staking from their application documents, this makes them less attractive than platforms that offer staking returns.

JPMorgan Chase expects the Ethereum spot ETF to attract up to $3 billion in net inflows during the remainder of the year. If staking is allowed, this number could increase to as much as $6 billion.

On May 21, Standard Chartered Bank estimated that the Ethereum spot ETF would bring in inflows of 2.39 million to 9.15 million ETH within one year after approval, which is equivalent to approximately $15 billion to $45 billion. At the same time, the agency predicts that the price of Ethereum may reach $8,000 by the end of this year.

ETH V turned above $3,550

Perhaps inspired by the upcoming launch of the Ethereum spot ETF, ETH recovered the decline that once fell to $3,362 at 2 o'clock in the morning today, and released on Balchunas It rose by more than 3% within 30 minutes after the news came out, and is still rising in shock. It was temporarily trading at $3,542 at the time of writing, with a slight increase of 0.48% in the past 24 hours, which is stronger than the 1.2% decline of BTC in the past 24 hours.

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