Nate Geraci, the president of ETF Store, recently expressed his views on the Spot Ethereum ETF registration process, stating that the approval of an Ethereum spot ETF holds more significance than that of a Bitcoin spot ETF. He believes that this move indicates a fundamental shift in the attitude of regulatory authorities towards cryptocurrencies.

Geraci's statement implies that the acceptance of an Ethereum spot ETF by regulatory bodies marks a significant milestone in the cryptocurrency industry. This development, he suggests, is a clear indication of the changing stance of regulators towards digital currencies, a shift that is irreversible.

On May 23, 2024, the US SEC approved the Spot Ethereum ETF, with the crypto community eagerly waiting for the listing. Following the approval of the ETF, the overall crypto market was massively impacted, especially Ethereum-based altcoin. Crypto giants and investors made massive purchases of Ethereum in response to this development.

The introduction of a Spot Ethereum ETF is highly anticipated by investors, as it would offer a more direct and potentially more efficient way to invest in Ethereum compared to the existing methods. This development is expected to impact the overall cryptocurrency market, potentially increasing institutional investment and mainstream adoption of Ethereum and other cryptocurrencies.

However, Geraci had earlier expressed that nobody knows for sure when the US SEC will approve the Spot Ethereum ETF registration statement. He predicted that approval could happen within the next few weeks or, at most, in two to three months, depending on how long the SEC decides to delay. This anticipation follows a series of regulatory reviews and market speculations. Former SEC Chairman Jay Clayton predicted that trading might begin by July or August, adding a layer of optimism to the timeline.

Despite the historic approval of 11 spot Bitcoin exchange-traded funds in January, industry observers were pessimistic about the United States Securities and Exchange Commission giving the green light to an Ethereum equivalent. But on May 23, after months of little engagement with applicants, the regulator quietly approved the products. Several prestigious financial firms received the green light from the SEC, including BlackRock, Grayscale, Ark Invest/21Shares, Fidelity, VanEck, Hashdex, Franklin Templeton, Invesco/Galaxy Digital and Bitwise.