NYSE Approves Ethereum ETFs from Bitwise, Grayscale; Potential $15B by 2025
In Brief
The New York Stock Exchange (NYSE) has approved the listing of Ethereum (ETH) ETFs from providers Bitwise and Grayscale. This development marks a significant step for institutional investors and could direct significant capital flows into the ETH market. Despite the positive news, uncertainty continues to prevail in the market, and ETH’s price volatility remains high.
NYSE Gives Green Light for ETH ETFs
On July 22, the NYSE confirmed the listing and registration of the common shares for the two funds. This approval follows the announcement by the CBOE to prepare for the loss of five spot-ETH exchange-traded funds. With fees after the waiver of 0.15% for Grayscale and 0.20% for Bitwise, and Coinbase as the custodian for both ETFs, a new access path opens up for institutional investors into the cryptocurrency markets.
Expected Capital Inflows
With the introduction of the ETH ETFs, speculations and predictions about the expected capital inflows are high. Analyses range from estimated monthly inflows of 750 million to 1 billion US dollars over the next six months to more optimistic estimates of 15 billion US dollars by May 2025 by Bitwise. These expected inflows could significantly influence the market, although the market for BTC ETFs has so far been strongly dominated by private investors.
Impact on Price
At the time of publication, ETH was trading at $3,437.57, representing a decrease of 1.75% in the last 24 hours. However, Ether’s trading volume has increased by 30% to $19.5 billion. The high volatility and high liquidation rates for long positions indicate continued uncertainty and possibly further price volatility until prices stabilize.
Our Assessment
The NYSE’s approval of the ETH ETFs is undoubtedly a significant step forward for the crypto market, especially for institutional investors. Despite short-term market uncertainty and volatility, this development could lead to broader acceptance and strengthening of Ethereum in the long term. Similar to Bitcoin, we could see positive price movements in the medium term following the introduction of the ETFs. However, investors should closely monitor market conditions and adjust their investment strategies accordingly.
Sources: X, Perfumo, Citigroup, CoinMarketCap, Coinglass, AMBCrypto, Tradingview
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