Bitcoin ETF approval has given optimism to many about the possibility of a spot Ether ETF soon, but experts caution it could be a lengthy process.
The United States Securities and Exchange Commission (SEC) approved 10 spot Bitcoin exchange-traded funds (ETFs) on Jan. 10, allowing investors in the U.S. to invest in Bitcoin-backed securities. Spot Bitcoin ETFs started trading on public exchanges on Jan. 11, with billions flowing in since.
The approval of spot Bitcoin ETFs was a pivotal moment in Bitcoin’s history after multiple years of rejections. However, with spot Bitcoin (BTC) ETFs now approved, all eyes have turned to spot Ether (ETH) ETF applications, the final deadline for which is in May.
As with spot Bitcoin ETF filings in 2023, major financial institutions, including BlackRock, ARK Invest, Fidelity, Invesco Galaxy and others, are filing for a spot Ether ETF. Ark was the first to file for a spot Ether ETF in September 2023, followed by BlackRock and others.
