From the Digifinex blog.
Wall Street investment bank Bernstein’s analysts predict the arrival of the first Bitcoin spot ETF between mid-October 2023 and mid-March 2024. They also indicate that an Ethereum spot ETF will soon follow.
（Image via Bernstein）
Green Light for Bitcoin ETF?
Cryptocurrency trust fund company GrayScale won a lawsuit against the U.S. Securities and Exchange Commission (SEC) on August 29. This victory overturned the SEC’s decision to reject the conversion of the Bitcoin trust fund GBTC to an ETF, fuelling confidence that a Bitcoin spot ETF will soon be approved.
Ethereum Spot ETF to Follow Bitcoin
Bernstein’s recent report forecasts that the crypto industry will welcome its first Bitcoin spot ETF within the stated time frame. The analysis, led by Gautam Chhugani, also suggests that crypto ETF opportunities will extend beyond Bitcoin to include multiple crypto assets.
（Image via Coinpedia）
Market Structure Similarities Between Bitcoin and Ethereum
Given Ethereum’s similar market structure with the CME futures and spot markets, it’s expected that the industry will quickly push for Ethereum spot ETFs after the approval of Bitcoin spot ETFs.
SEC Reviews Underway for Ethereum Futures ETF
As of mid-August, the SEC is reviewing as many as 16 Ethereum futures ETF applications. These applications were filed following a surge in Bitcoin spot ETF applications, initiated by BlackRock. Volatility Shares also revealed plans to launch its Ethereum futures ETF on October 12.
Insiders Say Multiple Approvals Likely
Insiders suggest that the SEC may approve multiple Ethereum futures ETF applications simultaneously. This could pave the way for Volatility Shares to become the first to launch an Ethereum futures ETF in the United States through standard procedures.
Conclusion
The green light for Bitcoin and Ethereum spot ETFs seems increasingly likely, thanks to favorable court decisions and growing industry momentum. The inclusion of multiple crypto assets in ETFs will provide more opportunities for investors and potentially reshape the landscape of crypto investments.
Keywords: Bernstein, Bitcoin spot ETF, Ethereum spot ETF, SEC, GrayScale, GBTC, Crypto Assets, Wall Street, Volatility Shares, Futures ETF, Investment Opportunities
This article came directly from the Digifinex blog, found on https://blog.digifinex.com/2023/09/09/bernstein-report-predicts-bitcoin-and-ethereum-spot-etfs-are-coming-soon/
