Spot Ethereum ETFs are yet to debut in the US, though Hong Kong is ready to welcome them.
The approval of US spot Ethereum exchange-traded funds (ETFs) could enhance Ethereum’s market valuation. However, even if these ETFs are rejected, it may merely be a bump in the road rather than a roadblock, suggested Jupiter Zheng, Head of Research at HashKey Capital.
The last #Bitcoin halving was $ETH's sign to start running hard.
Is this time different? I don't think so. pic.twitter.com/fGIiGYufe0
— Jelle (@CryptoJelleNL) April 4, 2024
In 2020, Ether’s price was around $210 before the halving and then rose to $433 by August 14, marking a 106% increase according to CoinMarketCap’s data. Jelle sees this historical pattern as a potential indicator for another price increase for ETH following the recent halving.
While the fate of spot Ethereum ETFs remains speculative in the US, in Hong Kong, such offerings are ready to debut trading.
Earlier this month, the Hong Kong securities watchdog greenlit spot Bitcoin and Ethereum ETF applications from four asset managers, including HashKey Capital, Bosera Capital, Harvest Global, and China Asset Management.