Is an Ethereum ETF expected to be approved soon? — Candidates awaiting confirmation include:

All eyes are on the U.S. Securities and Exchange Commission (SEC) approving an Ethereum exchange-traded fund (ETF). Following the groundbreaking approval of the spot Bitcoin ETF earlier this year, anticipation for an Ethereum ETF is palpable, with major investment firms awaiting confirmation.

black stone

Leading the charge is BlackRock, the world’s largest investment management firm, which filed a Form S-1 for the iShares Ethereum Trust. With CEO Larry Fink believing in Ethereum’s potential, BlackRock’s entry into the Ethereum ETF market shows significant institutional interest in the second-largest cryptocurrency.

grayscale

Meanwhile, Grayscale, a prominent cryptocurrency asset manager, is awaiting the SEC’s response to its proposal to convert the Grayscale Ethereum Trust into a spot Ethereum ETF. Grayscale, which paved the way for Bitcoin ETFs in the US, will compete directly with BlackRock for the best ETF provider.

21 weeks of the ark

ARK Invest has entered the fray by collaborating with cryptocurrency ETF issuer 21Shares to apply for an Ethereum ETF with Coinbase as the custodian. Cathie Wood’s ARK Invest is known for its innovative investment strategies, and its entry into the Ethereum ETF reflects the growing demand for cryptocurrency investments.

Fidelity, VanEck and Hashdex

Fidelity, another major player in the financial industry, has signaled its interest in an Ethereum ETF by filing for a product with the SEC through Cboe.

The same goes for VanEck. The well-established asset manager first sent out a proposal for an Ethereum ETF, but later withdrew it in 2021.

Brazilian asset manager Hashdex has teamed up with Nasdaq to apply for the Hashdex Nasdaq Ethereum ETF, following its success as a cryptocurrency ETF in Brazil.

Franklin Templeton, Invesco Galaxy, Bitwise

Franklin Templeton’s offering for the Franklin Ethereum Trust includes staking as part of its investment strategy. As staking grows in popularity in the cryptocurrency industry, Franklin Templeton is looking to offer a unique value proposition and provide more opportunities for investors.

Invesco, Galaxy Digital, and Bitwise have also submitted proposals for an Ethereum ETF, adding to the growing list of contenders awaiting SEC approval.

While the SEC’s decision on these proposals is eagerly awaited, industry experts predict that an Ethereum ETF could possibly be launched by the end of the year. If approved, the Ethereum ETF could open a new way for mainstream investors to participate in the cryptocurrency market and have a major impact on the market, potentially sending it to new highs.