Ethereum ETFs Will Trade 'Well Ahead Of November,' Says JPMorgan: 'Debate Around Staking Seems To Persist'
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 24 2024
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Source: Business Insider
- SEC Approves U.S. Ethereum Spot ETFs: SEC approved applications for eight U.S. Ethereum spot ETFs, a significant development in the cryptocurrency market.
- Timeline Uncertainty: While approvals are granted, the exact timeline for trading remains uncertain as registration statements are still under review.
- Regulatory Shift: JPMorgan analyst notes a shift in regulatory sentiment with the SEC engaging stakeholders after stalled conversations.
- Debate on Staking Rewards: There is an ongoing debate on whether staking ETH for ETF shareholders constitutes an investment contract under the Howey test.
- Impact on Crypto ETFs: Approval of Ethereum-tracking funds like ProShares Ether Strategy ETF and others could lead to increased attention on popular Bitcoin ETFs.
Analyst Views on GBTC
Wall Street analysts forecast GBTC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GBTC is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 70.340
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Current: 70.340
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
