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The market enthusiasm remains excessive, though with skepticism even from Bloomberg’s Senior ETF Analyst that has estimated the size of investments that the incoming Ethereum (ETH) ETFs would attract. Recent forecasts indicate a 75% likelihood that the U.S. Security and Exchange Commission (SEC) will greenlight these ETFs, driving ETH prices over the $3,700 mark in a not-so-long 20% spike. According to market data, this has pushed 90% of ETH holders into the green.
On the more sanguine side, optimistic market analysts see massive inflows on the way for ETH ETFs—potentially mirroring the success of the $13 billion of assets in Bitcoin ETFs. Balchunas, on the other hand, sees the also-ran potential of Ethereum ETFs, wherein he thinks they may attract just 10–15% of the assets in Bitcoin ETFs.
As for regulatory updates, Fidelity filed an updated version of its withdrawn proposal for an ETH ETF and entirely removed any staking content at a time when the SEC seems to be ramping up overall oversight into crypto staking. This further conforms to general regulatory uncertainty that acts as a driver to the crypto market and reinforces cautious views by some experts.
