SEC Approval on the Horizon
According to Bernstein, a leading asset management firm, the SEC is likely to approve an Ethereum Spot ETF. This would make Ethereum the second cryptocurrency, after Bitcoin, to gain SEC approval for an ETF.
Timeline for Approval
Bernstein predicts that an Ethereum Spot ETF could be approved by May 2023, with a near-certain chance of approval within the next year. The presence of major financial institutions like Grayscale and Franklin Templeton competing for the ETF strengthens the likelihood of approval.
Ethereum’s Path to $10,000
With the potential approval of an Ethereum Spot ETF, the cryptocurrency’s price could surge to $10,000. Similar to Bitcoin, which saw a price rally after the approval of its ETF, Ethereum could benefit from increased accessibility and adoption.
Institutional Adoption
Bernstein analysts believe that Ethereum is well-positioned for mainstream institutional adoption. With an ETF, institutional investors will have easier access to Ethereum, driving its growth and potentially pushing it to new highs.
