 ▲ Ethereum (ETH) |
It has been observed that the approval of the Ethereum (ETH) spot exchange-traded fund (ETF), which was expected to be approved by the U.S. Securities and Exchange Commission (SEC) as early as July 2, has been delayed.
Cointelegraph, a cryptocurrency media outlet, reported the observations of Bloomberg ETF analysts Eric Balchunas and James Seyffart that the SEC extended the S-1 filing deadline for Ethereum spot ETF applicants.
According to observations, the SEC completed providing comments on the S-1 document submission by July 8 and guided the resubmission of the document. If nothing goes wrong, approval of the Ethereum spot ETF is expected to take place in mid or late July.
ETF Store President Nate Geraci also predicted that the Ethereum spot ETF would be approved within two to three weeks. Although the exact launch schedule is unknown, he predicted that the Ethereum spot ETF will be launched in the United States sometime this summer.
Blockchain news media AMB Crypto reported Bitwise CIO Matt Hougan's forecast that the Ethereum spot ETF will record net inflows of $15 billion within 18 months of its launch in the U.S. market.
Hogan said that Bitcoin's market capitalization was $1.19 trillion, accounting for 74% of the total market capitalization of cryptocurrency. Ethereum's market capitalization is $432 billion, equivalent to 26% of the entire cryptocurrency market capitalization.
He then reported that the market conditions for Bitcoin ETP and Ethereum ETP in Europe and Canada are similar.
The total net assets of Bitcoin ETPs in Europe are 460.1 billion euros (78% of the cryptocurrency market capitalization), and the total net assets of Ethereum ETPs are 130.5 billion euros (78% of the cryptocurrency market capitalization). In Canada, the total Bitcoin spot ETP value and Ethereum spot ETP net assets recorded 494.2 billion Canadian dollars (77%) and 147.5 billion Canadian dollars (23%), respectively.
Based on this, Hogan predicted that by the end of 2025, when the total net assets of the Bitcoin spot ETF exceed $100 billion, the total net assets of the Ethereum spot ETF will reach $35 billion, equivalent to 26% of the entire cryptocurrency market. .
