JPMorgan analysts have provided their forecast for when Ethereum exchange-traded funds (ETFs) could begin trading in the USA. According to recent information from The Block, JPMorgan estimates that trading in Ethereum ETFs could start well before November. In a report released on May 24, JPMorgan analysts, led by Kenneth Worthington, shared their expectations for the start of trading for Ethereum ETFs. They view the approval of the ETF, and crypto in general, as an increasingly political issue leading up to the 2024 US presidential election. Therefore, they anticipate that spot ETH ETF trading will begin before November.
On May 23, the US Securities and Exchange Commission (SEC) approved the 19b-4 forms of eight spot Ethereum ETF issuers, including Grayscale, Bitwise, BlackRock, VanEck, Ark 21Shares, Invesco, Fidelity, and Franklin. However, the Form S-1 filings for these ETFs are still awaiting approval from the SEC to initiate product negotiations.
VanEck, a major investment management firm, updated its S-1 filing shortly after the SEC’s announcement of initial approval for spot Ethereum-based ETFs on May 23. The filing clarified that none of VanEck’s affiliates, such as the Trust, the Sponsor, the ETH Custodian, or any associated individuals, will engage in staking activities. This comes after ETF issuers withdrew their staking plans following the SEC’s stance on the matter. The updated document stated that the Trust will not participate in staking activities and will not earn any staking rewards or income. By forgoing potential returns from staking activities, the investment in the Trust’s Shares may deviate from the returns obtained through direct purchase and holding of ETH.
As of the time of publication, the ethereum price was quoted at US$3,764.41, showing a 0.8% increase in the last 24 hours.
Disclaimer: The views and opinions expressed in this article, by the author or anyone mentioned, are for informational purposes only and do not constitute financial, investment, or other advice. Investing or trading cryptocurrencies carries the risk of financial loss.
Editor’s Choice: Today, the crypto markets experienced significant growth, with BTC surpassing $70,000 and ETH surging to $3,450. The number of Ethereum wallets has also seen a sharp increase driven by positive sentiment surrounding ETFs.
