According to cryptocurrencycurrency expert Jim Cramer, the Securities and Exchange Commission (SEC) will most likely approve an Ethereum exchange-traded fund (ETF) in the near future. According to the CNBC anchor, the performance of spot bitcoin ETFs in recent weeks has influenced ETFs joining the Ethereum market.
Since their introduction, spot bitcoin ETFs have seen inflows of more than $6 billion. On Tuesday, the nine existing spot bitcoin ETFs combined for $2 billion in trading activity. The large flows into these products have altered Cramer’s previously skeptical assessment of their prospects.
Several asset managers have submitted spot Ethereum ETF filings to the SEC. Firms such as Grayscale Investments, VanEck, and Franklin Templeton are actively updating apps to satisfy SEC expectations. These moves signal that an Ethereum ETF approval is getting near.
While only time will tell if Cramer’s prediction comes true, the groundwork created by significant players in the ETF industry suggests that the odds are increasing. With bitcoin ETFs off to a strong start, the SEC may be warming up to further cryptocurrency fund approvals.
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