Spot Ethereum ETF will likely be approved in May 2024

ETF analyst at Bloomberg believes that spot Ethereum ETF will easily be approved in 2024. This morning (January 11), 11 spot Bitcoin ETF funds were approved by the US Securities and Exchange Commission (SEC). Many experts believe that the spot Ethereum ETF could be next in line in 2024. Eric Balchunas, an ETF analyst at Bloomberg, believes there is no “spot Bitcoin ETF approved but Ethereum ETF not” scenario. “Ethereum spot will be tied to Bitcoin spot,” said Eric Balchunas At the same time, besides the spot Bitcoin ETF, financial giants also applied for the spot Ethereum ETF. And May 23 will be the deadline for the SEC's response to the fund for Ethereum.

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Similarly, Joe Carlasare, a digital asset lawyer, said that the spot Ethereum ETF will be approved soon this year but “it may take longer than expected.” “Ethereum spot ETF will be approved but the SEC will try to set a precedent that will give them the power to decide which asset ETFs will be allowed to market,” said Joe Carlasare. Balchunas predicts 70% of the ETF spot ETF will be approved by May. This is the time it takes the SEC to make a decision on previously submitted applications. With the above predictions, ETH price increased by 300 USD, equivalent to 7%, the highest level since May 2022. Currently ETH is trading at 2,610 USD (According to TradingView).