Jim Cramer says Ethereum ETFs Will Bloom: Time to Worry About ETH?

Published February 29, 2024 9:32 AM

By Teuta Franjkovic

Edited by Peter Henn

Jim Cramer sees potential for Ethereum ETFs. | Credit: John Lamparski/Getty Images

Key Takeaways

Jim Cramer sees potential for Ethereum ETFs to replicate the success of Bitcoin ETFs.
Coinbase seeks SEC approval to list the Grayscale Ethereum Trust on NYSE Arca.
Standard Chartered predicts Ethereum’s price could reach $4,000.

Market analyst and television personality Jim Cramer has shared a positive outlook on the potential of Ethereum exchange-traded funds (ETFs). Cramer said he anticipated a level of success comparable to that of Bitcoin ETFs.

His optimistic forecast follows the event where the price of Ethereum crossed the $3,400 threshold, indicating a robust momentum that could pave the way for future ETF offerings in the Ethereum space.

Coinbase Seeks SEC Approval for Grayscale ETH Trust Listing on NYSE Arca

Coinbase, a prominent player in the digital currency exchange market, has actively pursued regulatory approval by submitting a formal request to the Securities and Exchange Commission (SEC) for the authorization to list and trade the Grayscale Ethereum Trust on NYSE Arca.

Given the success of the bitcoin etf it's pretty obvious that an ethereum etf will soon bloom

— Jim Cramer (@jimcramer) February 28, 2024

This move is part of a larger industry effort to establish Ethereum ETFs. At present, entities such as Fidelity and BlackRock are leading the charge, signaling growing institutional interest in Ethereum-based investment products.

Standard Chartered Forecasts Price Surge

The buzz around the potential approval of Ethereum ETFs is growing. Indeed, Standard Chartered is projecting a significant uptick in Ethereum’s market value, possibly reaching $4,000. This will, however, depend on the SEC’s approval, expected by May 23, 2024.

This prediction comes during a broader industry push for the introduction of Ethereum-based ETFs, mirroring the successful launch of Bitcoin ETFs and highlighting the increasing institutional interest in cryptocurrency investments.

With the SEC currently reviewing applications from leading asset managers, the approval of Ethereum ETFs could mark a pivotal moment for the digital currency, potentially catalyzing a major surge in its price and adoption.

Its going to be ETH season until the ETF date.

Someone tells me this is going to be the dog with a hat of Ethereum.

Please find me a single better dog than this dog.

The more I think about it, the more bullish I get.

1 billion. https://t.co/zfBkZmp1KU pic.twitter.com/xi8nS13m3U

— modest (@arrogantfrfr) February 29, 2024

The projection hinges on the expected boost in Ethereum’s accessibility and investment appeal following the approval of ETFs, signifying a transformative phase in cryptocurrency investment.

Industry Optimism Grows for 2024 Approval of Ethereum ETFs

There’s a rising wave of optimism within the financial industry regarding the approval of Ethereum ETFs in 2024, underscored by confidence from leading figures such as Grayscale’s Sonneshein , who views the approval of these financial products as inevitable.

ETF specialist James Seyffart also shares this expectation, predicting that an Ethereum ETF will be greenlit within the year. This shared sentiment among market analysts and financial leaders reflects a broader conviction in the cryptocurrency’s evolution and its integration into conventional investment platforms.

There is, however, one thing we must note. Jim Cramer has a, possibly unfair, reputation for his predictions forecasting the opposite of what ends up happening. ETH ETF operators will be hoping that, this time, the Cramer Effect will not take place.

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About the Author

Teuta Franjkovic

Teuta is a seasoned writer and editor with more than 15 years of experience. She has expertise in covering macroeconomics and technology as well as the cryptocurrency and blockchain industries. She has worked for several publications as a journalist and editor, including Forbes, Bloomberg, CoinTelegraph, Coin Rivet, CoinSpeaker, VRWorld and Arcane Bear. Teuta began her professional career in 2005, working as a lifestyle writer at Cosmopolitan in Croatia. From there, she branched out to several other publications, covering mainly business and the economy. She then turned her attention to the world of cryptocurrency and blockchain, believing that crypto is among the most important inventions in the history of humanity. Her involvement in fintech began in 2014 and she has since lent her expertise in writing, editing and gathering information about the world of crypto, blockchain, NFTs and Web3. An all-round news hound, mentor, editor, and writer, Teuta enjoys teamwork and good communication. She holds a WSET2 diploma and has a thing for chablis, punkrock music and shoes. She also holds a double MA in Political science and Entrepreneurship.

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