Prospect of spot ETFs not behind ether’s break above $3,000: Bernstein | Headlines | News | CoinMarketCap
02/26/2024 22:46
Analysts at research and brokerage firm Bernstein identified ether’s supply dynamics, restaking protocols, its Dencun upgrade and Uniswap’s fee …
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Published on February 26, 2024 15:25 GMT+00:00edited on February 26, 2024 15:31 GMT+00:00
Analysts at research and brokerage firm Bernstein identified ether’s supply dynamics, restaking protocols, its Dencun upgrade and Uniswap’s fee switch proposal among the catalysts behind its break above the $3,000 mark — but not spot ether exchange-traded funds.
With the spot Bitcoin ETFs launching successfully in January — attracting average daily inflows of around $200 million — attention has turned toward another narrative for crypto markets — the prospect of a spot ether ETF in the U.S. Big-name firms, including Fidelity, BlackRock and Franklin Templeton have applied for a spot ether ETF over the past few months.
Bloomberg ETF analyst Eric Balchunas recently suggested a 70% possibility for approval by May 23 — the final deadline for the Securities and Exchange Commission to rule on …