Following the approval of 11 Spot Bitcoin ETFs earlier this year, all eyes turned toward what assets could be next. Amid applications for a Spot Ethereum ETF, executives from Grayscale, Bitwise, and Galaxy agree they face a 50% chance. Indeed, the three firms are seemingly coordinated in their belief in the likelihood of the investment product.
Speaking at a panel yesterday, Fox Business reporter Eleanor Terrett posted the replies from the three executives on ETH ETF odds this year. Specifically, Bitwise Global Head of Research Matt Hougan, Galaxy Asset Management Head Steve Kurz, and Grayscale Global Head of ETFs Dave LaValle all stated a 50% chance for the investment product.
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Galaxy Digital, Grayscale, and Bitwise Agree on 50% Chance for Spot ETH ETF
As previously stated, the digital asset market faced a massively important development with the approval of Spot Bitcoin ETFs in the United States. To this point, those investment products have been an undoubted success. Especially amid the BTC price catapulting to a two-year high, and surpassing $51,000.
Now, the market is seeking what other digital assets could support their investment offering. As several applications for Ethereum ETFs have been filed to the US Securities and Exchange Commission (SEC), the industry is awaiting whether a green light could be in its future. Speaking at a panel this week, three executives from filing firms agree that a Spot Ethereum ETF faces a 50% chance of approval.
Also Read: Ethereum ETF To Push ETH by 70% to $4000: Standard Chartered
Fox’s Eleanor Terret Reported the consensus perspective at the panel. “I think it’s probable we will get an ETH ETF reasonably soon. I think there’s a 50/50 chance by May,” Bitwise’s Matt Hougan stated. “This is just the beginning of a crypto asset renaissance,” Galaxy’s Kruz added. “I think 50/50 by May and 75% by the end of the year.”
Thereafter, Grayscale’s LaValle was asked if the firm would sue the SEC if they did not approve the ETH investment offering. “We’ll have to wait and see how it plays out,” he responded. “We have to look at the facts. But I’d put the odds of approval at 50/50 by May.”