While many experts doubt that approval of the Ethereum (ETH) ETF could occur this year, The ETF Store President Nate Geraci remains optimistic.
While many experts doubt that approval of the Ethereum (ETH) ETF could occur this year, The ETF Store President Nate Geraci remains optimistic.
Spot ETH ETF disapproval is baseless, says expert Nate Geraci
Following the conference between the US Securities and Exchange Commission, Grayscale and Coinbase, it was confirmed that the futures and spot markets in the ETH/USDT pairs show the strongest positive correlation. Given the reliability of these ties, top expert Nate Geraci sees no potential reason to disapprove of Ether spot ETFs in the US.
He recalled that the SEC approved Ether futures ETFs on the Chicago Mercantile Exchange. As such, the ETH ETF approval prospects look promising to the expert.
In Coinbase’s thesis for the conference, it was highlighted that the approval of Bitcoin spot ETFs applies with equal or greater force to Ethereum (ETH).
Additionally, the leading exchange in the United States highlighted that Ethereum (ETH) has mechanisms to limit its exposure to fraud and manipulation.
Yesterday, Ethereum (ETH) was brutally rejected at the $4,000 level as the price fell to $3,800 within minutes. At press time, ETH price stabilized at $3,920 on major spot exchanges.
Pessimism prevails in the community
Market veteran Nate Geraci is also the host of the ETF Prime podcast covering exchange-traded funds and co-founder of the advisory firm The ETF Institute.
As Guru-Investingpreviously reported, cryptocurrency experts are pessimistic about the prospects for Ethereum ETFs in the US in 2024.
A week ago, Jake Chervinsky, chief legal officer at venture capital fund Variant, admitted that the product will likely be rejected for political reasons.
