While all eyes are on Ethereum ETF applications after the SEC's spot Bitcoin ETF approval, there is an optimistic view in the market that ETH ETFs may be approved in the near future.
While this situation supported the ETF to remain strong, a new report about ETH came from the famous investment company Bernstein.
According to Coindesk, Bernstein analysts evaluated the possibility of Ethereum ETF approval and the status of ETH.
At this point, analysts argue that Ethereum may be the only digital asset other than Bitcoin to receive spot ETF approval in the USA, and stated that there is a 50% chance of ETH ETFs being approved in May.
However, analysts said spot Ethereum ETFs have an almost certain chance of approval within the next 12 months.
Bernstein analysts Gautam Chhugani and Mahika Sapra included the following statements in the report:
“Ethereum is well positioned for mainstream institutional adoption with its staking return dynamics, environmentally friendly design, and institutional utility for creating new financial markets.
At this point, it's time to focus on Ethereum (ETH), the second largest cryptocurrency.
Because ETH may be the only digital asset other than Bitcoin that is likely to receive spot ETF approval by the SEC.
We think there is a roughly 50% chance of spot Ethereum ETF approval by May, with an almost certain chance of approval within the next 12 months.
As it is known, a number of traditional financial firms are competing for an Ethereum ETF in the US, which strengthens the medium-term outlook for ETH.
“There are also spot ETH ETF applications from companies such as Franklin Templeton, Blackrock (BRK) and Fidelity, which are Bitcoin ETFs approved by the SEC.”
Ethereum continues to trade at $2,914 at the time of writing.
*This is not investment advice.
