Hong Kong's VSFG Eyes Q2 2024 for Spot Ethereum ETF Launch

The spot Bitcoin ETF approval created a buzz in the crypto space and has put crypto on the path to mass adoption and Bitcoin as an asset class that can coexist with traditional assets. After US spot Bitcoin ETF approval, spot Ethereum ETF approval is anticipated.

Timeline of Ethereum

The U.S. Securities and Exchange Commission (SEC) has delayed its decisions on spot ethereum exchange-traded funds (ETFs) proposed by Blackrock, the world's largest asset manager, and Grayscale Investments. Grayscale is seeking to convert its existing Ethereum Trust into a spot ETF. Spot Ethereum ETF Decisions Delayed by SEC This week, the U.S.

XRP appears to have begun its market movements earlier than anticipated. The chart shows a notable shift from the recent sideways trading pattern, as XRP starts to carve out a new direction.

Steven Nerayoff, a former advisor to Ethereum, who is currently preparing a lawsuit against Ethereum founders Vitalik Buterin and Joseph Lubin, has disclosed a pivotal decision from his past. In a detailed statement on X (formerly Twitter), Nerayoff claims that he had turned down an allocation of over 1 million Ether (ETH).

The Securities and Exchange Commission is predicted to delay the approval of spot Ethereum (CRYPTO: ETH) exchange-traded funds (ETFs), according to investment bank TD Cowen. What Happened: TD Cowen, as reported by The Block on Thursday, anticipates that the SEC will not greenlight Ethereum ETFs before the May approval deadline.

Rocket pool- Blockchain for ETH staking Rocket Pool is a decentralized staking protocol providing liquid and node staking products for the Ethereum (ETH) ecosystem. Stakers- are individuals or users from API-integrated businesses.

Prominent analytics firm IntoTheBlock says that traders are operating under the assumption that Ethereum (ETH) will be the next crypto asset to get a spot market exchange-traded fund (ETF).

Ethereum, the world's second-largest cryptocurrency, has recently experienced a remarkable surge in value, outshining Bitcoin with a 14% price increase in just two weeks. This surge has taken Ethereum above a crucial psychological barrier, surpassing $2,600 for the first time since May 2022.

In a recent report by TD Cowen, a prominent American multinational investment bank, it has been projected that the U.S. Securities and Exchange Commission (SEC) will unlikely approve an Ethereum Exchange-Traded Fund (ETF) anytime soon.

Gary Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), says the approval of spot Bitcoin (BTC) exchange-traded funds (ETFs) this week doesn't impact the potential greenlighting of other crypto financial products.

The journey toward approving an Ethereum ETF stands on shaky ground when compared to the recent launch of Bitcoin ETF. While the BTC ETF launch took nearly a debate and a few lawsuits, SEC Chair Gary Gensler never called Bitcoin anything other than a commodity.