Ethereum
Will they steal the spotlight from Bitcoin?
Last week, nearly eight companies updated their S-1 amendments with the U.S. Securities and Exchange Commission (SEC), preparing to launch an Ethereum spot ETF by early July.
As anticipation grows for the Ethereum ETF, Markus Thielen, CEO of 10X Research, offers a measured outlook. He suggests that the Ethereum ETF could capture just 15% of the investment made by US spot Bitcoin ETFs.
VanEck’s strategic measures
Markus Thielen revealed that VanEck, a large financial company, was making significant preparations. VanEck CEO met with the SEC to discuss his ETH ETF. They plan to start with no fees until the fund reaches $1.5 billion in assets or by next year, after which a low fee of 0.2% will be implemented.
Recently, VanEck filed Form 8-A, a crucial step taken exactly seven days before the Bitcoin ETFs launch, indicating that they are ready for an ETH ETF launch by July 2. VanEck’s Bitcoin ETF currently manages $600 million.
Market Predictions
Thielen predicts that the ETH ETF could attract 15-20% of the investments received by Bitcoin ETFs, or around $14 billion. This suggests that the Ethereum ETF could amass around $2.8 billion in assets, reflecting the increase in interest in ETH futures since the news was announced on May 20.
Conversely, Bitwise Chief Investment Officer Matt Hougan suggests that the Ethereum ETF could attract $15 billion in net inflows in the first 18 months. The approval of Ethereum ETFs marks an important milestone for the cryptocurrency market.
Expand investment horizons
Ethereum ETF would simplify the investment process for traditional investors, allowing them to speculate on the price of Ethereum without directly owning the digital currency. This development is expected to attract more institutional and retail investors to Ethereum, potentially boosting its activity and popularity in the market.
Informative: Stay tuned! With the launch of Ethereum ETFs imminent, keep an eye out for future updates on how this will impact the cryptocurrency market.