Ethereum Spot ETF to Be Approved in May?

The US Securities and Exchange Commission (SEC) approved 10 Bitcoin ETFs on January 10, leading many investors to expect an Ethereum ETF to be approved soon. May 23 is the deadline for the SEC to make a decision on the ETF applications of VanEck and Ark21Shares.

The report points out that the market currently underestimates the odds of an Ethereum ETF being approved. However, Geoff Kendrick, head of FX Research at Standard Chartered, said that Ethereum has similarities in legal and financial status to Bitcoin, so it will follow a similar approval model.

Ether is the second-largest cryptocurrency after Bitcoin, with a market value of about $285 billion.

In its lawsuit against Ripple, the SEC excluded Ether and Bitcoin from its list of 67 cryptocurrencies that are considered securities. Both cryptocurrencies also have futures contracts traded on the Chicago Mercantile Exchange (CME), according to Coindesk.

The report said that after the ETF is approved, Ether will not suffer as much of a sell-off as Bitcoin because the Grayscale Ethereum Fund (ETHE) has a smaller market capitalization of Ether than the Grayscale Bitcoin Fund (GBTC). Bitcoin has fallen as much as 20% as investors sold billions of dollars of GBTC shares, according to Bloomberg.

Previously, Kendrick predicted that ETFs would attract $50-$100 billion in investment into the Bitcoin market this year, pushing Bitcoin prices to $200,000 by the end of 2025.

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