All eyes are on the U.S. Securities and Exchange Commission (SEC) to decide whether to approve an Ethereum exchange-traded fund (ETF). Following the landmark approval of the Spot Bitcoin ETF earlier this year, the excitement for the Ethereum ETF is clear, with major investment firms awaiting approval.
black rock
Leading the way is BlackRock, the world's largest investment management company, which has filed an S-1 Form for the iShares Ethereum Trust. CEO Larry Fink believes in Ethereum's potential, and BlackRock's entry into the Ethereum ETF market signals significant institutional interest in the second-largest cryptocurrency.
grayscale
Meanwhile, prominent crypto asset management company Grayscale is awaiting the SEC's response to its proposal to convert the Grayscale Ethereum Trust into a Spot Ethereum ETF. Grayscale, which paved the way for Bitcoin ETFs in the US, will compete directly with BlackRock for the best ETF provider.
arc 21 share
ARK Invest has also entered the fray, working with crypto ETF issuer 21Shares to file an Ethereum ETF with Coinbase as trustee. Cathie Wood's ARK Invest is known for its innovative investment strategies, and its entry into the Ethereum ETF reflects the growing demand for cryptocurrency investing.
Fidelity, Van Eck, Hashdex
Fidelity, another major player in the financial industry, has shown interest in an Ethereum ETF by filing a product with the SEC through Cboe.
The same goes for Van Eck. The well-established asset management company initially submitted a proposal for an Ethereum ETF, but later withdrew the proposal in 2021.
Brazilian asset management firm Hashdex has partnered with Nasdaq to leverage its success with crypto ETFs in Brazil by filing the Hashdex Nasdaq Ethereum ETF.
Franklin Templeton, Invesco Galaxy, Bitwise
Franklin Templeton’s Franklin Ethereum Trust proposal includes staking as part of its investment strategy. As staking becomes more popular in the cryptocurrency space, Franklin Templeton offers his unique value proposition and seeks to provide more opportunities for investors.
Invesco, Galaxy Digital, and Bitwise have also submitted Ethereum ETF proposals, adding to the growing list of candidates awaiting SEC approval.
While SEC decisions on these proposals are awaited, industry experts predict that an Ethereum ETF could be launched before the end of the year. If approved, the Ethereum ETF could open up a new avenue for mainstream investors to participate in the crypto market, have a major impact on the market, and push the market to new highs.
