Ethereum ETFs Anticipated in July: ETH Price to Hit $6,000?

John Darbie
Photo: Finoracle.net

Ethereum ETFs Expected to Launch in Early July: ETH Price Poised to Reach $6,000?

Bloomberg ETF analyst Eric Balchunas has revised his prediction, suggesting Ethereum ETFs could start trading as early as July 2. This expedited launch aligns with comments from Nate Geraci, President of ETF Store, who said the groundwork by the SEC is almost complete.

Early Launch of Ethereum ETFs

Crypto investors could soon gain access to Ethereum ETFs much sooner than anticipated, according to Bloomberg ETF analyst Eric Balchunas. He has revised his earlier prediction, suggesting that these exchange-traded funds could start trading on exchanges as early as July 2. The accelerated timeline depends on the US Securities and Exchange Commission (SEC) completing its review of spot Ethereum ETF applications. Balchunas noted that the SEC’s feedback on the S-1 filings from issuers was relatively minimal, primarily requesting minor adjustments. Issuers are expected to respond to these comments within a week. The Bloomberg analyst noted:

"The Staff sent issuers comments on S-1s, and they’re pretty light, nothing major, asking for them back in a week. We are moving up our over/under date for the launch of spot Ether ETF to July 2 based on this development."

Balchunas further speculated that the SEC might finalize the applications before the upcoming holiday weekend. “Anything is possible, but this is our best guess as of now,” he added.

Spot Ethereum ETF Groundwork Is Complete

This optimistic outlook aligns with the views of Nate Geraci, President of ETF Store. Geraci believes that the minor nature of the SEC’s comments suggests the substantial groundwork is complete, minimizing the likelihood of significant delays. This expedited timeline contrasts with earlier indications from SEC Chairman Gary Gensler. During a Senate hearing on June 13, Gensler mentioned that Ethereum ETF approvals might happen over the summer but did not provide a specific date for their trading debut.

Spot ETH ETFs would allow investors to gain exposure to the world’s second-largest cryptocurrency by market capitalization through a traditional investment vehicle. Proponents believe these instruments will enhance market access for investors and accelerate institutional adoption of Ethereum, similar to the impact of Bitcoin ETFs. However, some concerns remain about the potential demand for Ethereum ETFs compared to their Bitcoin counterparts. The absence of staking capabilities, which some Bitcoin ETFs offer, might reduce investor interest in Ethereum products. Despite this concern, Geraci argues that the potential demand for these ETFs is likely underestimated.

Share This Article
Follow:
John Darbie is a seasoned cryptocurrency analyst and writer with over 10 years of experience in the blockchain and digital assets industry. A graduate of MIT with a degree in Computer Science and Engineering, John specializes in blockchain technology, cryptocurrency markets, and decentralized finance (DeFi). His insights have been featured in leading publications such as CoinDesk, CryptoSlate, and Bitcoin Magazine. John’s articles are renowned for their thorough research, clear explanations, and practical insights, making them a reliable source of information for readers interested in cryptocurrency. He actively follows industry trends and developments, regularly participating in blockchain conferences and webinars. With a strong reputation for expertise, authoritativeness, and trustworthiness, John Darbie continues to provide high-quality content that helps individuals and businesses navigate the evolving world of digital assets.