New ETF Attack from US Companies: It Will Be the Next Altcoin!

As the launch of Bitcoin ETFs continues to increase institutional investment, giant companies continue to look for "altcoins" as an alternative. Leading investment companies in the US, especially BlackRock, continue to explore the possibilities for spot Ethereum ETF approval.

Spot Ethereum ETF Approval Probability 60%

James Seyffart, senior ETF analyst at Bloomberg Intelligence, estimates that there is an estimated 60% probability that spot Ethereum ETFs will be approved in May. As Koinfinans.com reported, the recent postponement of the SEC's decisions on BlackRock and Grayscale's potential ETH ETFs was the most important event that changed expectations. Other companies for its spot ETH ETF, including Ark 21Shares and VanEck, are also awaiting a decision.

According to Seyffart, May 23, 2024 is the most important first date for spot Ethereum ETF approval. On that date, the 240-day period for the SEC to rule on the proposals from Ark 21Shares and VanEck will end.

Although May 23 is the deadline, the SEC may ask applicants to "withdraw their requests" just before that date. If such a request comes from the SEC, it will mean a positive outlook rather than a negative one. However, if there is no final approval on May 23, it is more likely that an approval will come next year, that is, in 2025.

According to Scott Johnsson, general partner at Van Buren Capital, there is a close to 100% chance of Ethereum ETF approval. Although the date of approval has not been determined, he remains optimistic about the future of this approval.

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