Ether (ETH) has been on a tear, surging over 21% in the past day to reach a two-month high. This rally coincides with whispers of a significant price driver on the horizon: Ether exchange-traded funds (ETFs) in the United States.
Industry experts believe a spot Ether ETF approval could propel the price to $10,000 by the end of 2024, mirroring Bitcoin’s performance after its own ETF launch. However, the road to an Ether ETF might be longer than expected.
SEC’s Shifting Stance: Positive Signs but Delays Likely
The U.S. Securities and Exchange Commission (SEC) has historically been hesitant towards approving crypto ETFs. Recent reports, however, suggest a potential shift. The SEC has reportedly requested updates to 19b-4 filings from ETF issuers, a move seen as a positive sign for approval.
This change in stance could be due to political pressure, with analysts pointing to the upcoming US elections and the growing influence of crypto voters.
2025 More Realistic for Trading
While the next deadline for an Ether ETF proposal (VanEck’s) is May 23rd, analysts anticipate a delay in actual trading. The 19b-4 filing approval, though more likely now, is just one hurdle.
A separate S-1 filing approval is also required, and experts predict this could take until 2025. This delay wouldn’t diminish the eventual impact, however.
The launch of a spot Ether ETF is still seen as a major catalyst for the market, with some expecting a significant positive effect once it finally arrives.
The Bottom Line
The approval process for a spot Ether ETF in the US appears to be moving forward, albeit at a slower pace than some anticipated. While a 2024 launch might be optimistic, the potential for a $10,000 ETH by year-end remains a possibility. Investors should keep an eye on the SEC’s decisions and the progress of S-1 filings as the story unfolds.
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