$ETH

Eyes on Ethereum ETF requests after SEC approves Bitcoin cash ETFs Finally, Franklin Templeton, which today has $1.5 trillion in assets under management, has also applied for a cash Ethereum ETF. So far, 8 different companies have requested Ethereum. Among these companies are giants such as BlackRock and Fidelity.

If approved, the ETF is considered a significant catalyst for ETH price. The increase in Bitcoin's price as it approaches the approval of ETFs creates a similar expectation for Ether. At this stage, we are wondering when decisions regarding Ethereum ETFs will be made.

Analysts believe that the United States Securities and Exchange Commission (SEC) will rule on Ethereum ETF applications by May 23, 2024. The significance of this date is that it is the last day of the evaluation process for VanEck, the first candidate company. As with Bitcoin, the SEC must wait for the deadline and approve all applications at the same time to ensure competition. According to Bloomberg ETF analysts, the probability of approval for Ethereum ETFs appears to be 70%. The possibility of rejection by the SEC is not ruled out.

On the other hand, analysts from British bank Standard Chartered said they were waiting for confirmation. Analysts said in their report: “We expect approval of Ether ETFs in the United States on May 23. Just as the mass adoption of #Bitcoin ETFs on January 10, the same will be true for Ether ETFs. Ether in the direction of Bitcoin If it goes, the price of #ETH could reach $5,000.”

It is thought that the approval of Ethereum#ETFapplications will also have a positive impact on altcoins.