US Ethereum Spot ETF Predicted to Attract $3.9B Within First 100 Days
CryptoNewsTerminal Staff03 Jun, 2024
US Ethereum Spot ETF Predicted to Attract $3.9B Within First 100 Days
A recently released report by crypto research firm CCData suggests that the upcoming US Ethereum spot exchange-traded fund (ETF) has the potential to attract inflows of up to $3.9 billion within 100 days of its launch. "Our analysis of the performance of the Bitcoin spot ETF launch earlier this year suggests that there is a potential for about $3.9 billion in inflows into a US Ethereum spot ETF," said Jacob Joseph, research analyst at CCData. The ETF would further increase the appeal of Ethereum, the second-largest cryptocurrency by market capitalization. Ethereum is a decentralized blockchain platform that enables the development of smart contracts and decentralized applications. "We expect Ethereum to reach a new all-time high," Joseph added. The launch of a US Ethereum spot ETF would be a major milestone for the cryptocurrency industry. It would provide investors with a regulated and convenient way to gain exposure to Ethereum, which is currently only available through unregulated exchanges. The SEC has not yet approved any Ethereum spot ETFs, but several applications are currently under review. If approved, the first US Ethereum spot ETF could launch later this year.
