Ethereum Spot ETFs Set to Launch on July 2nd, Analysts Predict up to 60% ETH Price Surge
The highly anticipated launch of spot Ethereum ETFs is slated for July 2nd, according to Bloomberg ETF analyst Eric Balchunas. The Securities and Exchange Commission (SEC) has initiated a light review on the S-1 filings sent by ETF issuers, urging a response within a week. This signifies a robust potential that the SEC will declare the ETFs effective the following week, thus enabling trading to commence ahead of the holiday weekend.
SEC Signals Approval of Ethereum ETFs
The SEC has already approved 19b-4 forms for eight Ethereum ETF issuers, which include prominent names such as BlackRock, Fidelity, and VanEck. However, the green light on S1 forms remains pending. SEC Chair Gary Gensler intimated the potential summertime approval of the S1 for an Ethereum ETF during his recent testimony at a Senate Appropriations Committee hearing.
Institutional Capital Inflows Anticipated
Asset manager VanEck forecasts Ethereum (ETH) to soar to $22,000 by 2030, driven by an expected generation of $66 billion in "free cashflows". The introduction of spot Ethereum ETFs is projected to draw significant institutional capital, with Standard Chartered’s Geoff Kendrick estimating inflows ranging between $15 to $45 billion within the first year.
Potential 60% Rally in Ethereum Price
Singapore-based crypto trading firm QCP Capital predicts the approval of spot Ethereum ETFs could trigger a 60% rally in ETH prices, mirroring the market's reaction following the sanctioning of spot Bitcoin ETFs earlier this year, in January.
Stay tuned as the launch of spot Ethereum ETFs could mark a watershed moment for both institutional investments and the broader cryptocurrency market.
