Many market analysts recently changed their stance after the SEC unexpectedly requested that aspiring Ether exchange-traded fund exchanges update their 19b-4 filings before a deadline this week.
The notional open interest, or the dollar value locked in the number of active ether futures contracts, surged by 25% in a single day.
Markets previously had mostly priced in SEC rejections of the proposed funds beginning this week.
The asset manager has been helping educate pension funds, endowments and sovereign wealth funds about the new spot bitcoin ETF products, the firm's head of digital assets said.
Other evidence suggests that the SEC will likely delay the approval of spot Ether ETFs, while Hong Kong will start trading such products next week.
One of the issuers waived management fees for the first six months, undercutting rival offerings.
The Securities and Futures Commission, Hong Kong's markets regulator, has not made an official announcement.
The issuer of the VanEck Bitcoin Trust this week dropped its management fee to zero for a limited time in an attempt to attract more capital to that fund.
The approval of Bitcoin ETFs was a major foot in the door for Ether ETFs, Keyrock’s CEO Kevin de Patoul told Cointelegraph.
“We shouldn't need a court to tell us that our approach is arbitrary and capricious for us to get it right,” said SEC Commissioner Hester Peirce.
Larry Fink has been talking up a spot ether ETF, but index provider CF Benchmarks sees a conundrum when it comes to selling that product.
Several firms have filed applications for spot ether ETFs, including BlackRock.
The SEC has pushed back its decision on a roster of Ethereum ETFs, with the final date for a potential approval arriving in late May.