Could a pending ether ETF mimic the arc of bitcoin spot ETFs?

Ethereum Prices (ETH-USD) I am jumping on the possibility that the Securities and Exchange Commission (SEC) may approve bids for an ether ETF. This type of action in the cryptocurrency market is reminiscent of what investors saw in the run-up to the SEC decision on bitcoin spot ETFs seen in early 2024.

Senior markets reporter at Yahoo Finance Jared Blikre monitors the price action forming around digital assets and year-to-date crypto asset flows since the inception of the spot bitcoin ETF.

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This post was written by Luke Carberry Mogan.

Video transcription

Stick to the perspective of another place.

Cryptocurrency ETF Jared Blier is here now with a look at the lessons learned from what happened with Bitcoin.

Jared.

Yes, it’s difficult.

Easy to forget.

Uh, just at the beginning of the year.

We are still anxiously awaiting spot approvals of Bitcoin ETFs.

And I’ll post a Bitcoin chart here.

This will all end in the last year and the rumored things really started last October.

We didn’t get approvals until, say, mid-January, and we actually saw a slight decline.

Sell ​​the news on this.

But then we rose to record levels.

And this is where we are languishing in this upper limit of this trading range here.

Now, with Ethereum it’s really interesting that this is happening right now.

It was only a week or two ago that President Trump himself declared himself a pro-cryptocurrency candidate, and that’s leading a lot of people to speculate that this reversal, this sudden reversal that we’ve seen at the SEC with respect to spot ether, is because the Party Democrat wants to be more competitive in the crypto sector.

So whether that’s the case or not, I want to point out that Jim Bianco pointed out Rather, and I’ll echo his sentiments here, that the purpose of the Bitcoin spot ETF is that there’s going to be this wave of boomers and people just absorbing all of this, all this Bitcoin in their 401. That didn’t happen.

Indeed, we see the flows of Bitcoin ETFs.

This is starting this year.

So this is the current year, largely just following price.

Uh, Bitcoin peaked right here and that’s when it started trading in that range and that’s when the flow started to decrease.

So we haven’t seen the promised adoption by 401 people that could happen.

However, the fact that this is now a political issue is simply bullish for cryptocurrencies.

You’ll likely see a lot of pro-election statements.

So take it for what you will.

The story continues

Jared.

Thank you very much.

Appreciate it.

We will continue to monitor this aspect

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