My view is if a U.S. spot bitcoin ETF gets approved, there should be little argument for holding up a spot ether ETF. And Grayscale itself has said it plans to convert ETHE and other products to ETFs. I wouldn’t hold your breath when it comes to SOL, ATOM or any other smaller crypto asset, but we have first-hand knowledge that ETH ETFs work. In fact, ethereum ETFs launched within weeks of the first bitcoin ETF. Regulators in Canada were comfortable with the product because there is a regulated futures market for ETH, allowing market makers to hedge risk while creating and redeeming units. I suspect that following a BTC approval, an ETH approval would not be far behind. ETHE’s discount is greater than GBTC’s, meaning a far greater arbitrage opportunity. Also, ETH markets are less liquid than BTC, so the incremental buying from an ETF could have a more material impact on price. And, in my view, ETH has better upside as the leading platform for Web3 development.
Federal Judge’s Ruling Boosts Odds of US Spot Bitcoin ETF Approval, Adds Optimism to Grayscale’s Bitcoin and Ethereum Trusts
