The analyst Jim Cramer claims that an exchange-traded fund (ETF) on Ethereum will probably be accepted by the Securities and Exchange Commission (SEC) shortly. As the CNBC host has reported, the performance of the spot bitcoin ETFs for the past weeks has impacted the ETFs entering the Ethereum marketplace.
Spot bitcoin ETFs have seen inflows since launching, totaling over $6 billion. On Tuesday, the nine existing spot bitcoin ETFs combined saw $2 billion in trading volume. The sizable flows into these products have changed Cramer’s previously doubtful view of their potential.
Several asset managers have spot Ethereum ETF filings pending with the SEC. Firms like Grayscale Investments, VanEck, and Franklin Templeton are actively updating applications to meet expected SEC requirements. These actions suggest an Ethereum ETF approval may be drawing closer.
While only time will tell if Cramer’s prediction comes true, the groundwork laid by major players in the ETF space hints that chances are rising. With bitcoin ETFs off to a hot start, the SEC may be warming up to further crypto fund approvals.
Also read:
Franklin Templeton Files for Ethereum ETF
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