Ethereum ETF approval should be approved with the same argument that won the Bitcoin ETFs, said Galaxy Digital CEO Michael Novogratz.
In a CNBC interview, Novogratz said that while the U.S. Securities and Exchange Commission is “fiercely” debating whether to approve Ethereum exchange-traded funds, those should be approved under the same argument that won the Bitcoin ETFs.
Also, “there already is a futures Ethereum ETF [market], so, if you have it for futures, you have to have it for cash,” he said.
Recently, Bloomberg analysts reduced the likelihood of a spot Ethereum ETF being approved by the SEC by May from 70% to 30%.
Ethereum futures ETF:
ProShares Ether Strategy ETF (EETH) – Up 65.94% year-to-date. VanEck Ethereum Strategy ETF (EFUT) – Up 45.40% year-to-date. Bitwise Ethereum Strategy ETF (AETH) – Up 66.41% year-to-date. ARK 21Shares Active Ethereum Futures Strategy ETF (ARKZ) – Up 67.63% year-to-date.