Ethereum ETF Approval This Week? Nate Geraci Believes It Is Possible
Ethereum ETF approval could happen as soon as next week, according to Nate Geraci, president of ETF Store. This news has generated a lot of excitement. Major asset managers are waiting to see if the SEC will give the green light.
Expert Anticipation
There's a lot of buzz in the industry. For instance, Nate Geraci suggested on social media that the approval might come next week. This idea matches with what other industry insiders, like Bloomberg's Eric Balchunas, believe. They predict the ETF could debut as early as July 2, just before the U.S. Independence Day holiday.
Even Jay Clayton, a former SEC official, has supported the idea that approvals are likely to happen soon.
When, Not If
The story of the Ethereum ETF is unfolding while there's increasing institutional interest in the crypto market, especially in BTC and ETH. Right now, the SEC is looking at revised proposals from big asset managers like VanEck, BlackRock, Grayscale, and Invesco Galaxy Digital. These companies have tweaked their plans and included management fees.
In a surprising move, Hashdex, a known player in the ETF market, decided to withdraw its application for a spot Ethereum ETF. They didn't give a reason or share what they plan to do next, but they did come up with a mixed Ethereum and Bitcoin solution.
Looking Forward
All eyes are now on the SEC. The upcoming decisions could be a big deal for bringing crypto into the traditional financial markets (TradFi). With lots of speculation and high expectations, next week might be a turning point for Ethereum ETFs.
Stay tuned for more updates as this exciting development unfolds.
