Ether spot ETF latest news and future prediction: Issuer submits revised document, with a maximum target price of $8,000.

"Today, Bloomberg ETF analyst James Seyffart posted on X platform this morning, stating: 'Five potential Ethereum spot ETF issuers have submitted 19b-4 amendment filings to the U.S. SEC through Cboe BZX, including Fidelity, VanEck, Invesco/Galaxy, Ark/21 Shares, and Franklin.' The DTCC official website has also listed VanEck's spot Ethereum ETF as 'VANECK ETHEREUM TR SHS' (with the code ETHV)."

On the other hand, as the SEC's anticipation of Ethereum Spot ETF warms up, the negative premium of Grayscale Ethereum Trust (ETHE) has narrowed to 11.82%. According to relevant sources, Grayscale has filed Ethereum Mini-Trust Form 19 B-4 update with the U.S. SEC, confirming that its Ethereum mini-trust will not be directly or indirectly involved in ETH stake.

In a previous document, Grayscale proposed to investors that Ethereum could be staked through the trust fund. However, this wording was not included in the preliminary proxy statement revised by Grayscale on Tuesday. Other issuers, including Fidelity, have also taken similar actions (removing content related to stake).

Yesterday, according to insider @tier 10 k on X platform, the Securities and Exchange Commission of the United States has informed the exchange that they are inclined to approve the Spot Ethereum ETF.

SEC officials unexpectedly requested Nasdaq and the Chicago Board Options Exchange (CBOE) to promptly update and modify their application documents for the Ethereum Spot ETF, according to three knowledgeable sources. This request is typically made before approval, implying that the agency may be prepared to approve the applications from both companies. The SEC must decide whether to approve the VanEck and ARK Investments/21 Shares ETF applications submitted by CBOE by this weekend. The exchange requires SEC approval of its modified rules before listing the product, while the issuer still needs SEC approval of the ETF registration statement to commence trading. Unlike the filing submitted by the exchange, the SEC does not have a specific decision timeframe, which means it may take several more months for the Ethereum Spot ETF to commence trading.

Ethereum's attributes remain a key issue

According to multiple sources, the classification of Ethereum as a commodity or security is still undecided. Therefore, as we can see in the previous section, the ETF applications have made changes by removing clauses related to Ethereum's security features. Here are some opinions:

Van Buren Capital partner and financial lawyer Scott Johnsson said that the relevant application documents show that the Ethereum Spot ETF will still be listed under the "commodity-based trust shares" rule.

Variant Fund Chief Legal Officer Jake Chervinsky said that this means if the US SEC approves the Ethereum Spot ETF, it will have to acknowledge that non-staked ETH is not a security. This would be a significant policy move for the SEC, which has previously refused to recognize any assets other than Bitcoin as non-security commodities.

Cinneamhain Ventures founder Adam Cochran said that Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), continues to lack clarity in Ethereum regulation. The unstable and ambiguous position of the SEC on the classification of Ethereum may hinder innovation in the cryptocurrency field and create significant uncertainty. It is worth noting that Ethereum is currently under investigation by the SEC to determine whether it should be classified as a security.

The main factors behind the regulatory attitude change in the general election

Dragonfly partner Haseeb Qureshi said that the regulatory attitude towards Ethereum ETF indicates a softening of the Biden administration's encryption policy, as they do not want to lose votes in the election competition due to minor issues (referring to encryption regulation).

Qureshi added: "In the coming months, the market will see other regulatory agencies change their attitudes. Note that this is not a complete reversal. As long as the differences can be reduced. Trump will definitely be more supportive of cryptocurrency, but Biden will soften to avoid losing votes from cryptocurrency."

Market Forecast

Standard Chartered Bank: If approved, ETH will pump to $8000 by the end of the year.

Standard Chartered Bank expects the Securities and Exchange Commission (SEC) to approve Ethereum ETF this week. Geoff Kendrick, Head of Forex Research and Digital Asset Research at Standard Chartered Bank, said that if Ethereum Spot ETF is approved, it is expected to attract a capital inflow of 2.39 million to 9.15 million ETH in the first 12 months, equivalent to approximately 15 to 45 billion US dollars in USD terms.

"In terms of market capitalization, this is similar to our inflow estimates for Bitcoin ETFs, and these estimates are proving accurate," Kendrick said. ”

In addition, if the Ethereum ETF is approved this week, it is expected that Ethereum will maintain its price exchange rate with Bitcoin, and Ethereum is projected to reach $8000 by the end of 2024.

Kendrick said, "Given our current expectation that Bitcoin will reach $150,000 by the end of 2024, this would mean that the price of Ethereum will reach $8,000."

Su Zhu: Target Price $5400

Su Zhu posted on the X platform that the price of ETH is starting to pump, and he mentioned before that if Ethereum Spot ETF is really approved, then ETH will pump 80% from $3000 to $5400, and BTC will pump to $80000 (ETH/BTC Exchange Rate will reach 0.0675), which will also be a new high for ETH price.

Founder of Kryptanium Capital: Best strategy if approved is to buy SOL/ETH.

Daniel Yan, founder of Kryptanium Capital, said that if Ethereum ETF is approved within two days, the best trading strategy is to "buy SOL/ETH". Here's why: ETH has pumped nearly 20% in the last 24 hours; SOL will be the next beneficiary of ETH ETF after approval; ETH/BTC pump 12% within a week of BTC Spot ETF approval as people expect ETH ETF (approval); This strategy has low market participation and is not a popular trade.

He also reminded that the price of BTC fell 15% in the weeks following the approval of the spot ETF on January 10th.

QCP Capital: There will be a price fluctuation of $1000 based on the approval situation.

QCP Capital's post stated that regarding the rumors of the Securities and Exchange Commission (SEC) approving the Ethereum Spot ETF, QCP Capital's view is that the Ethereum spot price is unlikely to stabilize here. If the spot ETF is approved, the Ethereum price will be closer to the short-term target of $4000, which may be reached later this year at $5000. If it fails to be approved, the Ethereum price will fall to $3000. This uncertainty has led to higher volatility, but a better trading opportunity may be the basis of spot futures, with yields exceeding 10% again now.