Will Ethereum Get A Spot ETF Before Bitcoin?
Will Ethereum Get A Spot ETF Before Bitcoin? One Bloomberg Analyst Thinks So.
Here's the current list of #Bitcoin and Crypto ETF filings with the SEC. Next big date is still 11/14/21 for VanEck's spot Bitcoin ETF. It will be either approval or denial from SEC — no more delays. https://t.co/Z8phpVlsOK pic.twitter.com/g9ayoibmQN
— James Seyffart (@JSeyff) November 8, 2021
Bloomberg analyst James Seyffart believes that an Ethereum Spot ETF is more likely than a physically-backed one for Bitcoin. Last month, the SEC approved a futures ETF, but SEC chair Gensler doesn’t appear bullish on spot ETF.
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- When asked by one of his Twitter followers if there was any news on an Ethereum ETF, Seyffart responded, “No news. But i think we see an ETH futures ETF approved before we see a spot Bitcoin ETF approved. Time will tell obviously.”
- This continues a recent trend of mainstream adoption of Ethereum. Not to mention, crazy bullish predictions.
- Seyffart didn’t provide any reasons why he believes Ethereum is in the pole position, but his thinking falls in line with recent tepid public displays of enthusiasm for an ETF by Gensler.
- Seyffart also reported today that the next big date for the SEC regarding a Bitcoin Spot ETF is November 14th. “It will be either approval or denial from SEC — no more delays,” Seyffart said.
- Seyffart added, “We fully expect a denial based on recent comments from SEC/Gensler. Would be shocked if VanEck’s filing is approved (despite believing it *should* be approved). BUT, the denial letter should give us insight into SEC’s current views/opinions on underlying [Bitcoin] market.
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