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The debut of spot Ether ETFs is anticipated to unlock opportunities for Solana ETFs and various crypto products, according to industry analysts. Eric Balchunas of Bloomberg sees this as a pivotal moment for digital asset investments.
Ether ETFs Set Stage for Future Crypto Products
A possible Solana-based ETF is among the many crypto exchange-traded products that have been prompted by the impending launch of the first spot Ether ETFs.
The initial offering of spot Ether ETFs will provide the groundwork for future crypto ETFs, says Bloomberg's senior ETF analyst Eric Balchunas.
More Ether and SOL-based products are on the horizon, according to the analyst's July 15 X post:
For exchange-traded funds (ETFs) based on digital assets as well as those based on traditional assets, Balchunas is widely regarded as a top analyst.
Impending Launch of Spot Ether ETFs
Cointelegraph shares that after the US Securities and Exchange Commission supposedly sent asset managers final guidelines, the first spot US Ethereum ETFs might begin trading as early as July 23.
Balchunas reports that issuers were told by the commission to submit their final S-1 files by July 16. The new funds are expected to be launched on July 23. The fees that issuers want to charge for their new cryptocurrency funds must be included in the final filings.
The agency greenlit the crypto-based investment vehicles on May 23 after issuers submitted Form 19-b, which requested regulation adjustments. Obtaining clearance for asset managers' initial securities registration S-1 Forms is now a requirement.
The price of Ether (ETH), which has been falling for more than a month since May's end, may recover because of the forthcoming Ether ETFs.
Based on data from CoinMarketCap, the price of Ether reversed from its downward trend that had persisted for the past month on July 8, following the formation of a local bottom slightly above the $2,800 mark.
Soon after the initial ETH ETFs go live, multi-cryptocurrency ETFs may follow suit.
Combination ETFs a Possibility
When asked about the idea of asset managers applying for exchange-traded funds (ETFs) that hold a combination of Bitcoin and Ether, Balchunas stated that this is a "100%" possibility:
“100%. They’re gonna go full Frankenstein.”
In the months after its launch, the Ether-based ETFs might draw up to $10 billion in new inflows, according to analysts. This indicates that they could attract a large amount of interest from investors.
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