Ethereum ETF Anticipation Builds: May 23 Crucial Date

Ethereum ETF spot investment have been proposed by Invesco and Galaxy Digital, but the SEC postponed its decision.

According to a filing, Invesco and Galaxy Digital suggested an exchange-traded fund (ETF) that would invest in spot ether (ETH), but the U.S. Securities and Exchange Commission (SEC) put off making a decision on the proposal till further notice.

Professional investors would be able to acquire direct exposure to spot ether through the proposed offering. One of the few ways regulated U.S. investors and funds can wager on Ethereum’s growth right now is through ether futures traded on CME.

According to James Seyffart, an analyst at Bloomberg Intelligence, the decision to wait was expected.
According to Seyffart, further delays are predicted in the coming months. At the present moment, May 23 is the sole day that is relevant for spot #ethereum ETFs. The date that @vaneck_us has set as their final deadline.

Grayscale Investments applied to have its Ethereum trust product (ETHE) converted into an ETF in January, but the process was postponed by the SEC. The application for an ether ETF by BlackRock was also postponed as a result.

Therefore, major investors anticipate a 70% increase in ether price in the next months, as ETF applications are anticipated to be accepted in May.

The projected approval date is May 23, and Standard Chartered Bank expects Ethereum values to either match or exceed bitcoin (BTC) during that time, according to a note from January.

With a 2.2% increase, ETH outperformed all majors in the last day, according to data.