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Hotspot Shifts to ETH? Analysts Optimistic about "Ethereum Spot ETF" Passing in May This Year

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Hotspot Shifts to ETH? Analysts Optimistic about "Ethereum Spot ETF" Passing in May This Year

Cointelegraph quotes several industry insiders who believe that the probability of a spot Ethereum ETF being approved in May this year is quite high. While Ethereum "futures" ETFs have been launched in the fourth quarter of last year, trading volumes have not been significant, and they have not received the same level of attention as Bitcoin futures ETFs did upon their launch.

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Bloomberg ETF Analyst: Ethereum Spot ETF Has a 70% Chance of Approval in May

Eric Balchunas pointed out that he cannot imagine a scenario where a Bitcoin spot ETF is approved while an Ethereum spot ETF is not.

He believes that regulators view BTC and ETH standards similarly, so once a Bitcoin ETF is approved, Ethereum will definitely follow suit. His sources also indicate optimism surrounding the approval of an Ethereum spot ETF.

Balchunas estimates a 70% chance of approval for an Ethereum spot ETF in May this year. However, due to multiple ETFs reaching approval deadlines at the SEC in May, the launch date may still be subject to change.

According to CoinMarketCap, following the approval of a Bitcoin spot ETF, ETH saw a slightly higher increase in price, with a 24-hour change of:

  • BTC: 0.3%

  • ETH: 8.49%

SEC Officially Approves Bitcoin Spot ETF, Bitcoin Price Lags Behind Ether

Research Firm: Market Focuses on ETH

The co-founder of Reflexivity Research listed the deadline for Ethereum ETF approvals, with VanEck, 21Shares & ARK, and Hashdex all having final dates in May.

He believes that although it may seem like no one is currently paying attention to this, and Gary Gensler has declared in an SEC announcement that BTC is a "commodity," expectations for the approval of an Ethereum ETF may not be high. However, he emphasizes his bullish outlook on ETH:

Markets tend to follow narratives, whether you like ETH or not, the market will do so.