Experts bullish on Ethereum performance, although SEC still considers spot ETFs

The launch of a spot Bitcoin ETF attracted a large number of new investors and saw a significant increase in trading volume, CryptoPotato reported. This trend makes the optimism not limited to Bitcoin. However, the launch of a spot Ethereum ETF has not been brought forward by the fact that the U.S. Securities and Exchange Commission (SEC) is currently evaluating the possibility of a spot Ethereum ETF. Despite the uncertainty, experts appear optimistic about the trajectory of the world’s largest altcoin, Ethereum. Matthew Sigel, head of digital assets at VanEck, said that while he is skeptical that a “flip” — in which Ethereum overtakes Bitcoin as the leading crypto asset — will occur, he expects Ethereum to outperform Bitcoin. However, the U.S. government’s wariness of banks and brokers’ participation has put a big damper on the launch of a spot Ethereum ETF. The SEC has once again delayed its decision to approve or reject BlackRock and Fidelity’s spot Ethereum ETF. Jake Chervinsky, chief legal officer at crypto firm Variant, said the SEC is facing increasing political pressure and market instability, which could affect its decision-making process on a spot Ethereum ETF.