✨ Valkyrie Anticipates No Immediate Launch of an Ethereum ETF
posted 23 Feb 2024
Valkyrie Chief Investment Officer Steven McClurg believes that a spot Ethereum ETF is unlikely to come soon, though it could be approved by 2026. He advises against drawing parallels with the Bitcoin ETF, highlighting significant differences between the two cryptocurrencies.
So I think it will take the SEC a lot of time to get their head around what disclosures look like for a product like that,McClurg said.
He also mentioned a potential XRP ETF as another fund that could gain SEC approval, given that only three cryptocurrencies have not been officially classified as securities (BTC, ETH, XRP). This classification suggests that ETFs for these digital assets could be pursued under current U.S. financial regulatory guidelines.
Investment firm AllianceBernstein has previously suggested that Ethereum might become the only cryptocurrency to secure its own ETF following Bitcoin. This discussion is becoming more frequent against the backdrop of significant crypto activity by major companies (Fidelity, BlackRock) that have already filed for Ethereum ETFs.
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