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Spot Ethereum ETF approval is looming: 2 reasons to avoid

Press Releases Crypto News Crypto-News Spot Ethereum ETF approval is looming: 2 reasons to avoid

Ethereum price has crawled back in the past two days as investors focus on the approval of spot Ethereum ETFs by the Securities and Exchange Commission (SEC).

ETH price rose to $3,112 on Tuesday, 10.5% above where it traded at last Friday. There are hopes that the SEC will approve ETFs soon as companies continue filing their final documents with the agency.

VanEck submitted its amended filing on Monday, while Invesco filed on Tuesday morning. Bitwise and 21Shares have also made their filings. Analysts believe that these funds could start trading as soon as this week.

First S-1 just rolled in today from VanEck.. they already had their fee so nothing to see here really, they just putting ball back in SEC’s court. Expecting the rest today except for Bitwise who did theirs last week. pic.twitter.com/gF6OZTKIrs

— Eric Balchunas (@EricBalchunas) July 8, 2024

These funds come a few months after the SEC approved spot Bitcoin ETFs, which have seen over $14 billion in inflows.

2 reasons to avoid spot Ethereum ETFs

Ethereum funds will provide non-traditional crypto investors a good way to track the price of Ethereum without the need to deal with some of the complexities of crypto, such as wallet keys. As such, funds will be ideal for large institutional investors who find it overly complex to deal with real coins.

However, there are two main reasons why investors should consider investing in Ethereum instead of ETFs.

First, buying and holding ETF in a hot or cold wallet is in reality a relatively simple process. One can easily do that using one of the popular exchanges like Binance, Coinbase, and OKX, crypto.com, among many others.

After buying Ether, the only fee th

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Author: Crispus Nyaga

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