Ethereum ETF Trading Start Sooner Than Expected, As JPMorgan Predicts
JPMorgan analysts anticipate that trading for recently approved spot Ethereum ETFs could kick off well ahead of November, attributing this expectation to the increasing politicization of ETF approvals and the broader crypto landscape.
The SEC recently gave the nod to 19b-4 forms for eight spot Ethereum ETF applicants, including major players like Grayscale, Bitwise, and BlackRock. Despite pending S-1 registrations, trading could commence in the next few weeks.
The sudden approval followed renewed engagement by the SEC with stakeholders earlier this week after months of halted discussions.
ETH ETF approvals are believed to have happened after issuers removed staking references from their 19b-4 forms, a move potentially easing concerns regarding staking’s classification under securities laws.
READ MORE: Coinbase Resumes XRP Trading in New York After Nine-Month Suspension
Coincidentally, the ETH ETF approval followed the U.S. House of Representatives passing the FIT 21 bill, designating digital assets as “digital commodities” and granting jurisdiction to the U.S. Commodity Futures Trading Commission, shifting oversight away from the SEC.
The bill’s fate in the Senate remains uncertain, with the Biden administration neither endorsing nor threatening to veto it.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
