Galaxy Digital said exchange-traded funds tracking Ethereum’s native token, ETH, could become a multi-billion market opportunity soon after approval.

The U.S. Securities and Exchange Commission recently changed course to accelerate the approval of these funds, with some analysts predicting the first ETH ETFs approvals could come in next week. The SEC has yet to approve the crucial S-1 filings needed for the funds to hit the market.

In a Wednesday report, Galaxy Vice President of Research Charles Yu said that in the first five months of trading, ETH ETFs could conservatively see 20% or upwards of 50% of the inflows as bitcoin ETFs, which have been a surprising hit since a suite of funds launched in January.

Bitcoin ETFs received $15.1 billion in net inflows between launch and June 15, …