ETH ETFs “Inevitable” in US, European Market Way Ahead With ETH ETPs

cryptonews.com:

Several applications have been submitted for Ethereum exchange-traded funds with the U.S. Securities Exchange Commission (SEC) and the decision for approving or denying the products has been pushed back which is in line with analyst expectations.

Unsurprisingly, on Monday, the SEC delayed a decision to approve the BlackRock spot Ethereum ETF. The SEC now has until May 23 to approve or reject VanEck’s ETF application for an Ethereum ETF tracking the world’s second-largest cryptocurrency.

In January, the SEC approved almost a dozen Bitcoin spot ETFs which has caused a trading frenzy as demand for the products continues to accelerate. One of the eleven Bitcoin spot ETFs approved is the BlackRock iShares Bitcoin Trust trading under the ticker symbol “IBIT.” BlackRock’s ETF is leading the pack and so far has attracted $10 billion in assets under management (AUM) in just under two months since launching.

Many product providers are optimistic about the approval of more crypto products believing it is inevitable the SEC will eventually approve Ethereum ETFs due to the demand.

“I think it is inevitable Ether is next,” Hector McNeil, co-CEO and the co-founder of HANetf, a firm which markets and distributes exchange-traded products, told Cryptonews: “If Bitcoin can be approved and meets all the liquidity and asset class thresholds then Ether qualifies,” adds McNeil.

Across the pond in Europe, many issuers such as are sitting smugly after successfully listing numerous cryptocurrency exchange-traded products (ETPs) years ago giving investors exposure to Bitcoin and  Ethereum. Crypto ETP providers in Europe include CoinShares, 21Shares, WisdomTree, ETC Group, Valour and Fidelity.

“We already have these [ETH ETFs] in Europe we have over