The market is anticipating the approval of the Ethereum spot ETF by the U.S. Securities and Exchange Commission (SEC). Bloomberg ETF analysts raised the approval probability to 75%. Six spot Ethereum ETF applicants rushed to submit revised 19b-4 yesterday. After the document... turned to betting that good news would be heard soon, sending Ethereum skyrocketing.
Financial Lawyer: SEC Will Give Up Calling ETH a Securities
Regarding previous market concerns that the SEC would classify Ethereum as a security, well-known American financial lawyer Scott Johnsson also said on X last night that there are currently many signs that the SEC will abandon the argument that ETH is regarded as a security:
The Ethereum spot ETF applied by Fidelity has stated that it will not pledge ETH. A bigger signal is that the trust structure and information disclosure of the commodity grantor have not changed. These all indicate that the SEC will abandon the view that ETH is a security.
Grayscale Ethereum Trust negative premium drops to 11.83%
It is also worth noting that as the market’s expectations for the Ethereum spot ETF to pass this week have been rekindled, the negative premium of Grayscale Ethereum Trust ETHE has increased from – 26.08% at the beginning of this month to – 11.83%.
Is now a good time to buy ETHE?
We know that before the adoption of the Bitcoin Spot ETF, the negative premium of Grayscale GBTC also showed a gradually shrinking trend, and eventually returned to almost zero after its adoption. (Investors who previously bought when the negative premium was large made huge profits after GBTC was converted into a spot Bitcoin ETF.) Therefore, this may be the last opportunity to buy ETHE at a discount.
However, it still needs to be noted that it remains to be seen whether ETHE will replicate the situation of GBTC, and even if the ETF passes, it is also necessary to consider whether the price of Ethereum can continue to rise?
How to buy ETHE?
ETHE was established on December 13, 2017 and listed for trading in July 2019. It is regulated by the US SEC and is a listed trust fund that can be traded through a general securities account in the United States.
However, for Taiwanese, they need to apply for overseas securities companies and make international remittances. At this time, they need to pay attention to bank wire transfer fees; in addition, ETHE also needs to pay handling fees to Grayscale, which is also an additional cost consideration that needs to be included.
Extended reading: A good opportunity to buy ETH at 20% off? Grayscale Ethereum Fund ETHE’s Negative Premium Expands Again, How to Get Started
