A total of $13.43 billion has flowed into spot BTC ETFs since the approval of the digital assets in January, but the current capital flowing into the investment products remains significantly low compared to their peaks in March.
Sigel stated that the first-come-first-serve approach by the SEC would help the issuers plan their product launches in a much better way.
Despite the SEC’s engagement with issuers, industry experts warn that the process isn’t finished yet. “Basically, it’s just starting,” said a high-ranking member at an ETF issuer, referring to the S-1 discussions.
Despite being first in the market, Hong Kong’s Ethereum ETFs fail to gain enough traction with daily trading volumes dropping to their lowest.
The anticipation of spot Ether ETF approvals has had a profound impact on the Ethereum market value.
Solana’s potential ETF approval could skyrocket its market presence, leveraging its high-speed, low-cost transactions for mainstream adoption.
While some are clamouring to have a SOL spot ETF, others such as Bitwise Investment CEO Hunter Horsley see no reason for it.
Bitcoin ETFs in Hong Kong have also shown strong performance.
The rally in Bitcoin price and spot Bitcoin ETF inflows comes as the US SEC decision date for spot Ethereum ETFs inch closer.
Most of the Ether ETF issuers are removing the staking feature from their application as having it would conflict with the SEC’s securities laws.
The DTCC is a major provider of post-trade financial services, which lists both active and pending ETFs on its site.
On Monday, the SEC requested for updates to 19b-4 filings for spot Ether ETFs.
Market analysts say that if the US SEC approves spot Ethereum ETF this week, ETH price can rally 75% from the current levels by July 2024.
The open interest for the monthly expiry of Ethereum options has surged to $3.2 billion with the call-to-put ratio favouring the buy options.
Despite this positive trend, overall flows for these ETFs remain below their March peak.