Ethereum ETFs Will Trade 'Well Ahead Of November,' Says JPMorgan: 'Debate Around Staking Seems To Persist'
Ethereum ETFs Will Trade 'Well Ahead Of November,' Says JPMorgan: 'Debate Around Staking Seems To Persist'
On Thursday, the SEC approved applications to list eight U.S. Ethereum (CRYPTO: ETH) spot ETFs, marking a pivotal moment in the cryptocurrency markets.
週四，美國證券交易委員會批准了上市八隻美國以太坊（加密貨幣：ETH）現貨ETF的申請，這標誌着加密貨幣市場的關鍵時刻。
However, the issuers' registration statements are still under review, and the exact timeline for trading remains uncertain.
但是，發行人的註冊聲明仍在審查中，交易的確切時間表仍不確定。
According to JPMorgan analyst Kenneth B. Worthington, these approvals come amid a notable shift in regulatory sentiment, with the SEC reengaging with stakeholders after months of stalled conversations.
摩根大通分析師肯尼思·沃辛頓表示，這些批准是在監管情緒發生顯著轉變之際獲得的，在對話停滯數月之後，美國證券交易委員會重新與利益相關者進行了接觸。
Worthington noted that Galaxy analysts anticipate that trading might begin by July or August 2024. JPMorgan expects trading of the spot ETH ETF to begin "well-ahead of November," and will become "an increasingly political issue ahead of the 2024 U.S. presidential election."
沃辛頓指出，銀河分析師預計交易可能在2024年7月或8月開始。摩根大通預計，現貨以太坊ETF的交易將 “在11月之前開始”，並將成爲 “在2024年美國總統大選之前越來越政治化的問題”。
Also Read: Ethereum Set For 60% Rally Following ETF Approval, Says Expert: 'The Market Is Expecting Fireworks'
另請閱讀：專家表示，ETF批准後，以太坊將上漲60％：“市場期待煙花”
'Debate Around Staking Seems To Persist'
“圍繞質押的爭論似乎仍在繼續”
Worthington also highlighted a significant unresolved issue: whether staking ETH on behalf of ETF shareholders constitutes an investment contract under the Howey test.
沃辛頓還強調了一個懸而未決的重大問題：根據豪伊測試，代表ETF股東質押ETH是否構成投資合同。
Current applications have been amended to exclude references to staking rewards, asserting that such rewards will not be passed to investors. This change is believed to have influenced the recent regulatory approval. However, "the debate around staking seems to persist as we now understand the focus is on whether these issuers will/can retain such staking rewards for themselves," said Worthington.
目前的申請已經過修改，不提及質押獎勵，聲稱此類獎勵不會傳遞給投資者。據信這一變化影響了最近的監管批准。但是，沃辛頓說：“圍繞質押的爭論似乎仍在繼續，因爲我們現在知道重點是這些發行人是否會/可以爲自己保留這樣的質押獎勵。”
Keep An Eye On Crypto ETFs
密切關注加密 ETF
Ethereum-tracking funds such as ProShares Ether Strategy ETF (NYSE:EETH), the Valkyrie Bitcoin and Ether Strategy ETF (NYSE:BTF), the Bitwise Ethereum Strategy ETF (NYSE:AETH), the Bitwise Bitcoin and Ether Equal Weight Strategy ETF (NYSE:BTOP), the ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (NYSE:BETH), and the ProShares Bitcoin & Ether Equal Weight Strategy ETF (NYSE:BETE), could see sunnier days ahead.
以太坊追蹤基金，例如ProShares以太幣策略ETF（紐約證券交易所代碼：EETH）、瓦爾基里比特幣和以太幣策略ETF（紐約證券交易所代碼：BTF）、Bitwise以太坊策略ETF（紐約證券交易所代碼：AETH）、Bitwise比特幣和以太幣等權重策略ETF（紐約證券交易所代碼：BTOP）、ProShares比特幣和以太幣市值權重策略ETF（紐約證券交易所代碼：BETH）以及ProShares比特幣和以太幣等權重策略ETF（紐約證券交易所代碼：BTH）策略ETF（紐約證券交易所代碼：BETE）未來可能會有更晴朗的日子。
Popular Bitcoin ETFs such as the Grayscale Bitcoin Trust (NYSE:GBTC), the iShares Bitcoin Trust (NYSE:IBIT) and the Fidelity Wise Origin Bitcoin Fund (NYSE:FBTC) may also see increased attention in the coming days.
灰度比特幣信託基金（紐約證券交易所代碼：GBTC）、iShares比特幣信託基金（紐約證券交易所代碼：IBIT）和富達Wise Origin比特幣基金（紐約證券交易所代碼：FBTC）等受歡迎的比特幣ETF也可能在未來幾天受到更多關注。
Photo: Shutterstock
照片：Shutterstock
譯文內容由第三人軟體翻譯。