Ethereum's price surge and upcoming ETF launches could significantly boost institutional and retail investment in the broader crypto market.
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Ether could set a new all-time high after the debut of the first spot Ether ETFs, but $3,500 remains a significant resistance line to cross.
Ether’s price could be on track to reach a new all-time high as the industry is about to witness the launch of the first spot Ether exchange-traded funds (ETFs), which could occur as soon as next week.
Ether’s (ETH) price could be on track to a new all-time high after the launch of the first United States spot Ether ETFs, according to Matt Hougan, chief investment officer of Bitwise.
Hougan cited three main reasons for Ether reaching a new all-time high, including ETH’s inflation rate, the fact that Ether stakers aren’t selling like Bitcoin (BTC) miners and that 28% of Ether supply is already out of the market.
Franklin Ethereum ETF (EZET) has emerged as the fee race’s frontrunner.
Virtually all of the soon-to-be-listed Ether exchange-traded funds (ETFs) are temporarily waiving or discounting fees as rivalries among issuers heat up ahead of next week’s anticipated listings, according to documents filed with United States regulators.
The promotional discounts range from full waivers to roughly 50% fee reductions and vary in length from six months to a year. Some discounts also expire once ETFs pull a certain amount of assets under management (AUM).
In total, seven out of 10 proposed spot Ether (ETH) ETFs are touting fee cuts. Grayscale Ethereum Trust (ETHE) and Invesco Galaxy Ethereum ETF are opting out of the fee war. The other outlier — ProShares Ethereum ETF — has lagged behind peers in the registration process and is not expected to list next week.
The issuers must still await final regulatory signoff on S-1 filings before listing the funds.
The United States Securities and Exchange Commission (SEC) approved two spot Ethereum exchange-traded funds (ETFs) — Grayscale Ethereum Mini Trust and ProShares Ethereum ETF — for listing on the New York Stock Exchange’s (NYSE’s) Arca electronic trading platform, according to a July 17 filing.
The approval of the so-called Form 19b-4 filing authorizes NYSE to facilitate trading of the funds. However, the issuers must still stand by for final comments on the ETFs’ respective S-1 filings before the spot products can actually commence with listing.
“Grayscale is excited to share that the [SEC] has approved Grayscale Ethereum Mini Trust’s (proposed ticker: ETH) Form 19b-4,” a Grayscale spokesperson said in a statement. “The Grayscale team continues to engage constructively with SEC staff, as we seek full regulatory approval for US spot Ethereum ETPs.”
According to Bloomberg analyst Eric Balchunas, the highly-anticipated Ethereum ETFs could launch in the United States by July 23.
According to a new Kaiko report, Ether could outperform Bitcoin following the launch of the highly anticipated Ethereum exchange-traded funds (ETFs) in the United States.
The report highlighted the Ether (ETH) to Bitcoin (BTC) Price Ratio, a metric that measures the amount of BTC required to purchase one ETH. The higher this metric climbs, the higher the price of Ether relative to Bitcoin and vice versa.
Currently, the ratio is at 0.05, compared to the 0.045 recorded before the Securities and Exchange Commission (SEC) approved the spot Ether ETFs.
According to Bloomberg analyst Eric Balchunas, the SEC has directed issuers to submit their final S-1 filings by July 16, with the aim of launching the new Ether funds on July 23.
The United States Securities and Exchange Commission (SEC) has reportedly delivered final instructions to asset managers preparing to launch Ether exchange-traded funds (ETFs).
According to Bloomberg’s analyst Eric Balchunas, the Commission instructed issuers to submit their final S-1 filings by July 16, targeting a launch for the new funds on July 23. The final filings must include the fees issuers plan to charge in their new crypto funds.
On May 23, the agency approved issuers' 19-b form proposing rule changes that would allow the crypto-based investment vehicles. Asset managers now need approval for their initial securities registration S-1 forms.
Bitcoin saw its fifth-largest week of inflows on record, helping it recapture the $60,000 mark, while Ether inflows took second place in anticipation of the US Ether ETFs.
Inflows into digital asset investment products have hit a new record of over $17.8 billion year-to-date (YTD), pointing to the start of a potential crypto market recovery.
The new record comes after cryptocurrency investment products saw a total of $1.44 billion worth of inflows last week.
According to CoinShares data, the year-to-date inflows for 2024 have reached $17.8 billion, significantly surpassing the previous record of $10.6 billion set in 2021.
Ethereum's price surge signals potential for significant institutional and retail investment influx, impacting the broader crypto market.
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Expect ETH’s spot price to be more responsive to ETF inflows than BTC’s, says crypto investment manager Tom Dunleavy.
Ethereum exchange-traded funds (ETFs) will attract up to $10 billion in new inflows in the months after launch and send Ether (ETH) prices soaring to all-time highs by the end of the year, Tom Dunleavy, a managing partner at crypto investment firm MV Global, told Cointelegraph.
“We saw $15 billion in flows for Bitcoin. I think we’re probably going to see $5 to $10 billion for Ethereum,” Dunleavy said. “I expect a very positive price impact sending us to new all-time highs by early Q4.”
Eight spot ETH ETFs are awaiting a final signoff from United States regulators and are widely expected to begin trading imminently, possibly as soon as this month. The funds will join an existing roster of around a dozen Bitcoin (BTC) ETFs, which started trading in January. Collectively, BTC ETFs currently manage approximately $15.9 billion.
VanEck's move could pave the way for broader acceptance and regulatory clarity of cryptocurrency ETFs in the U.S. financial markets.
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