JPMorgan analysts have shared their prediction on when Ethereum exchange-traded funds (ETFs) could start trading in the USA. According to recent information published by The Block, JPMorgan estimates that trading in Ethereum ETFs could begin well before November. Kenneth Worthington and his team of analysts highlighted that they see the approval of the ETF and crypto in general as a political issue leading up to the 2024 US presidential election.
On May 23, the US Securities and Exchange Commission (SEC) approved the 19b-4 forms of eight spot Ethereum ETF issuers, including Grayscale, Bitwise, BlackRock, VanEck, Ark 21Shares, Invesco, Fidelity, and Franklin. However, the Form S-1 filings for these ETFs are still awaiting approval from the SEC before product negotiations can begin.
Shortly after the SEC’s announcement regarding initial approval of spot Ethereum ETFs, VanEck, a major investment management firm, updated its S-1 filing. In the filing, the company stated that none of its affiliates, including the Trust, the Sponsor, the ETH Custodian, or any associated individual, will participate in staking activities. This comes after ETF issuers withdrew their staking activities following SEC scrutiny.
As of now, the price of Ethereum is quoted at $3,764.41 with a 0.8% increase in the last 24 hours.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and should not be considered as financial or investment advice. Investing or trading cryptocurrencies carries a risk of financial loss.
Editor’s Choice: Today, the crypto markets are experiencing significant growth, with Bitcoin surpassing $70,000 and Ethereum reaching $3,450. The number of Ethereum wallets is also increasing due to positive sentiment driven by the approval of ETFs.
