Ethereum
Ethereum jumps 5% to $3,300 ahead of key ETF decision
Key points to remember
- Ethereum Price Surges Above $3,300 as Market Awaits SEC Approval of Ethereum Spot ETF Trading
- Analysts and industry leaders believe that the impending approval will boost investment in Ethereum.
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Ethereum price rose 5% to over $3,300 ahead of key Ethereum exchange-traded fund (ETF) decision, according to data from TradingView.
The U.S. Securities and Exchange Commission (SEC) is expected to greenlight the launch of several Ethereum spot ETFs by the end of the month. While the exact date remains speculative, ETF experts believe that approval come the week of July 15th.
ETF Store President Nate Geraci reiterated his prediction that the SEC will approve S-1 filings this week after weeks of delays following acceptance of the initial quotation in MayHe believes there is no reason to delay the process further, as issuers are ready for launch and recent filings require minimal changes.
“Welcome to the site [ETH] ETF approval week. I’m announcing it. I don’t know anything specific, I can’t find it. [without] a good reason for any further delay at this stage. The transmitters are ready for launch,” Geraci declared in a Sunday post.
Bloomberg ETF analysts Eric Balchunas and James Seyffart had previously predicted that Ethereum ETFs could be approved and begin trading as early as mid-July.
Seyffart noted that Ethereum ETF issuers have filed their final S-1 registration statements, which is the last regulatory hurdle before approval. Balchunas said the SEC’s minimal comments on these latest filings suggest they are close to being satisfied with the requests.
Matt Hougan, chief investment officer at Bitwise, confirmed that minimal changes suggest an imminent approval.
The approval of an Ethereum spot ETF is expected to have a major impact on the Ethereum market and the broader crypto industry. This could lead to remarkable inflows of institutional and retail capital into Ethereum, potentially reflecting The success of Bitcoin spot ETFs.
In a recent report, Hougan suggested that spot Ethereum ETFs could attract $15 billion in net inflows by the end of 2025.
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