Ethereum continues to gain substantial market traction.

Earlier today, the ETH price soared above $ 4650, setting another new record this week.

As this happens, the debate over the possibility of an ETF futures contract on Ethereum is growing. According to the latest Bloomberg Intelligence report, US regulators are more likely to approve an ETF on Ethereum before the Bitcoin ETF spot.

According to Bloomberg analyst James Seyffart, an Ethereum ETF could hit the market in the first quarter of 2022. 

Seyfarth also added that it would be out of the Bitcoin ETF spot sooner. 

Speaking to Bloomberg, the analyst said:

"Most market participants agree that a Bitcoin ETF spot would be better than existing ETFs, but its approval by the SEC could be delayed until the end of 2022 or later. "Although a Bitcoin ETF spot is likely to be ready in 2022, approval by the SEC may take longer due to concerns about regulation in the underlying Bitcoin market."

Two Bitcoin ETFs from ProShares and Valkyrie were approved by the US Capital Market (SEC) last month, fueling the rally at BTC.

 There is a strong possibility that institutional actors could pressure regulators to approve an Ethereum ETF.

If the US SEC approves ETH futures of Ethereum before the end of the year, we can see ETH reaching much higher price targets. Many analysts expect ETH to reach $ 10,000 by the end of the year.

This article is for informational purposes only and does not replace specialized consulting services with professional experts.

Thanks to sponsors.

Read and Support friendly Blogs.