Crypto ETF Opportunity Doesn’t Stop at Bitcoin, Extends Into Multiple Digital Assets: Bernstein
The industry push for an ether spot ETF will follow immediately after a bitcoin ETF approval since ETH has a similar market structure of a traded CME futures market and a spot market, the report said.
Grayscale secured a landmark win against the U.S. Securities and Exchange Commission (SEC) last week in a court ruling that went past the Grayscale Bitcoin Trust (GBTC) conversion into an exchange-traded-fund (ETF), laying out unambiguous principles for regulators to evaluate spot ETF applications, broker Bernstein said in a report on Monday.
“The crypto ETF opportunity won’t stop at just bitcoin (BTC), but will extend into multiple crypto assets,” analysts led by Gautam Chhugani wrote.
The industry will get its first spot bitcoin ETF some time between mid-October and mid-March, and approval of all spot ETF applications, including Grayscale, will happen at the same time, the report said.