ETF Store President Predicts Multi-Crypto ETF Filing in Coming Months
President of ETF Store Nate Geraci foresees an exchange-traded fund (ETF) issuer filing for a combined spot Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) ETF in the near future.
“Prediction… An ETF issuer will file for combined spot btc, eth, & sol ETF in next few months. We’re quickly heading down path towards index-based & actively managed crypto ETFs,” Geraci wrote.
The forecast comes amid increasing anticipation of the U.S. Securities and Exchange Commission (SEC) potentially approving Ethereum ETFs.
Prediction…
An ETF issuer will file for combined spot btc, eth, & sol ETF in next few months.
We’re quickly heading down path towards index-based & actively managed crypto ETFs.
— Nate Geraci (@NateGeraci) July 22, 2024
Last week, the Chicago Board Options Exchange (CBOE) announced that five spot Ethereum ETFs will begin trading on July 23, pending regulatory effectiveness.
The announcement follows the approval of rule changes by the SEC on May 23, allowing for the listing of spot Ether ETFs.
However, the launch is subject to final approval of each fund issuer’s respective S-1 registration statements by the regulator.
The five spot Ether ETFs that will commence trading are the 21Shares Core Ethereum ETF, Fidelity Ethereum Fund, Invesco Galaxy Ethereum ETF, VanEck Ethereum ETF, and Franklin Ethereum ETF.
To gain an early market advantage, most of the ETF issuers have announced plans to temporarily waive or discount fees, aiming to compete for market share once the products are available for trading.
Beyond Bitcoin and Ethereum, the approval of other crypto ETFs, including Solana, is unlikely without significant regulatory changes, Bloomberg ETF analyst James Seyffart said.
He noted that a regulated market is needed to monitor these
Read more on cryptonews.com
