Top Analyst Downplays Ether ETFs

Top Analyst Downplays Ether ETFs

The cryptocurrency market is busy discussing the possible approval and implications of Ether ETFs. However, not all industry experts are optimistic about its immediate future.


The cryptocurrency market is busy discussing the possible approval and implications of Ether ETFs. However, not all industry experts are optimistic about its immediate future.

Eric Balchunas, senior analyst at Bloomberg, has voiced skepticism, comparing the enthusiasm around Ether ETFs to an opening act trying to follow a headliner.

This could indicate that the much-hyped Ethereum ETFs may not live up to expectations, especially compared to spot Bitcoin ETFs.

This sentiment casts a shadow of doubt on the potential impact of Ether ETFs on the cryptocurrency landscape.

Great obstacles

Jake Chervinsky, chief legal officer at Variant, recently expressed concern about the approval of ETH ETFs this year.

Citing the political pushback the SEC faced during the approval of Bitcoin ETFs and the volatile nature of the current market, Chervinsky emphasized the regulatory body’s cautious stance.

The SEC’s hesitation, coupled with its ability to justify denial based on legal grounds, even if questionable, shows how difficult it would be for Ether ETFs to get the green light.

Is the big gold day ignored? Peter Schiff criticizes CNBC’s Bitcoin fixation

Despite BlackRock’s influential position and its past successes in gaining ETF approval, Chervinsky maintains that an SEC withdrawal request could be a likely scenario.

Is it still a big deal?

Not everyone shares this cautious outlook. Nate Geraci, president of The ETF Store, predicts that Ether spot ETFs could have a more significant impact than many anticipate.

Drawing parallels to the underappreciated demand for spot Bitcoin ETFs, Geraci points to ETH’s significant market capitalization, which is one-third that of Bitcoin.

With the Bitcoin spot ETF category already amassing approximately $50 billion, the introduction of Ether ETFs could potentially generate significant market interest.

As Guru-Investingreported, BlackRock’s Bitcoin ETF recently surpassed $10 billion in assets under management. It set a new record for the fastest ETF to reach this threshold. The record was previously held by a gold-focused fund for several decades.

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