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Ethereum ETF: the community is waiting

Ethereum ETF – to be, or not to be. A review by a Bitcoin mixer: mixer.money
Ethereum ETF: the community is waiting

  1. Wide range of activities
  2. The rise of Ethereum

Since the launch of the first Bitcoin futures ETF, investors have been wondering which cryptocurrency ETF will arrive next. So far, it seems like it will most likely be Ethereum, the second most valuable cryptocurrency.

Some of the crypto market leaders believe that the first Ether ETF will arrive very soon. Lark Davis, a crypto trader and writer of the weekly Wealth Mastery report, is optimistic regarding the possibility of an Ether ETF. He observed that the development of the Bitcoin ETF drove the price of Ethereum up and commented, “Just wait until they announce the ETH ETFs!”.

Wide range of activities

In fact, an Ethereum ETF might arrive quite soon. ProShares, which launched the Bitcoin Strategy ETF, and VanEck filed applications for their Ether futures ETFs this summer.

However, both companies decided to pull their proposals. The SEC has also received some other Ether ETF filings — they are based on Ether spot market prices and include applications by Gemini Trust Company and Kryptoin Investment Advisors.

It is still unclear to the community how regulators are going to classify cryptocurrency. Representatives of the U.S. Securities and Exchange Commission (SEC) have already stated in no uncertain terms that they do not regard Ether as a security. Gary Gensler, the Chairman of the Commission, prefers cryptocurrency futures ETFs to spot market funds. If an Ethereum-based ETF does appear, it might follow the model similar to that of the Bitcoin Strategy ETF by ProShares, which is based on Bitcoin futures.

The rise of Ethereum

An Ethereum ETF is quite likely to happen, considering Ethereum’s dominance rate of 18.4% on CoinMarketCap. Moreover, the price of Ethereum has grown by over 400% this year, driven by the popularity of NFTs (non-fungible tokens) and DeFi (decentralized finance).

The current Ethereum price chart

Technical analysts at Fundstrat say that Ether might set a new record high and soon top the $4,900 level. Currently, Ethereum is trading at about $4,100.

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