Spot Ether ETF: ‘No Grounds for Disapproval,’ Leading Expert Affirms
While many experts express doubt about the approval of an Ethereum (ETH) ETF this year, Nate Geraci, president of The ETF Store, remains optimistic. Geraci asserts that there are no valid reasons for the disapproval of a spot Ether ETF, citing the strong positive correlation between futures and spot markets in ETH/USDT pairs. This correlation was confirmed during a recent conference between the U.S. Securities and Exchange Commission, Grayscale, and Coinbase. According to Geraci, the approval of Ether futures ETFs on the Chicago Mercantile Exchange further supports the potential for ETH ETF approval. Coinbase also emphasized in the conference that the approval of Bitcoin spot ETFs should apply similarly to Ethereum. The exchange highlighted Ethereum’s mechanisms to prevent fraud and manipulation, further fueling Geraci’s optimism. Despite a recent drop in the price of Ethereum, Geraci remains positive about the prospects of a spot Ether ETF. However, other cryptocurrency experts express pessimism regarding the approval of Ethereum ETFs in the U.S. in 2024, citing political reasons as a potential barrier to their acceptance.