Coinbase Says Ethereum ETF Approval More Likely Than You Think— Here's Why
Portfolio Pulse from Murtuza Merchant
Coinbase Research suggests that the likelihood of approval for a U.S. spot Ethereum ETF is higher than current market pricing indicates, estimating a 30-40% chance. This could unlock new capital inflows for Ethereum, despite competition from other layer-1s like Solana.
May 17, 2024 | 4:17 pm
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Coinbase Research suggests a higher likelihood of U.S. spot Ethereum ETF approval, which could positively impact Coinbase by increasing trading volumes and interest in Ethereum-related products.
Coinbase's research indicates a higher probability of Ethereum ETF approval, which could lead to increased trading volumes and interest in Ethereum-related products on Coinbase's platform.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Grayscale Ethereum Trust (ETHE) is trading at a 24% discount to its NAV. Approval of a spot Ethereum ETF could reduce this discount by increasing demand for Ethereum-related investment products.
The approval of a spot Ethereum ETF could increase demand for Ethereum-related investment products, potentially reducing the discount at which ETHE trades relative to its NAV.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70