The likelihood of approval from the US Securities and Exchange Commission (SEC) is huge: almost 50% for launch by May and almost 100% in the next 12 months.
“Ether, with its betting yield dynamics, eco-friendly design and utility in creating new financial markets, is well positioned for mass institutional adoption. This is likely the only digital asset alternative to Bitcoin that is capable of receiving clear ETF approval from the SEC,” Bernstein analysts say.
The opinion of officials, Bernstein experts believe, may be influenced by the fact that participants in the traditional stock market not only want to launch spot ETFs for ether similar to ETFs for Bitcoin, but also express their intention to “build more transparent and open tokenized financial markets on the Ethereum network, where utility goes beyond mere accumulation of assets.”
Along with the growth of the ether price, staking of the second cryptocurrency by capitalization is significantly gaining popularity. The amount of ETH staked on Beacon Chain has reached 30,234,354, representing almost 25% of the total coins in circulation.
Source: Bits
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