Spot Ethereum ETFs Expected to Begin Trading Soon

Spot Ethereum ETFs Expected to Begin Trading by July 2

The anticipation surrounding the launch of Spot Ethereum ETFs has reached a fever pitch, with Bloomberg analysts Eric Balchunas and James Seyffart providing an update on when these funds are likely to start trading.

According to Balchunas, the over/under date for the launch of Spot Ethereum ETFs has been moved to July 2. He mentioned that the Securities and Exchange Commission (SEC) has sent comments on the S-1 filings of fund issuers, which are reportedly minor. Fund issuers are expected to file their amended registration statements within a week.

Balchunas expressed optimism that the SEC could declare these filings effective the following week and work towards approving them before the holiday weekend. While the shift from July 4th to 2nd may seem minor, it signifies progress in the approval process.

The analysts had previously set July 4th as the target date for the launch of Spot Ethereum ETFs. Balchunas clarified that July 2nd was chosen as the over/under date because they remain undecided about the timeline. This update comes as a relief to the crypto community, especially after SEC Chair Gary Gensler’s comments had raised concerns about a potential delay in approval.

The launch of Spot Ethereum ETFs is expected to have a significant impact on Ethereum’s price. Experts like Ash Crypto and Eljaboom believe that Ethereum reaching $10,000 is inevitable once these funds start trading. CrediBULL Crypto even set a minimum target of $10,000 for Ethereum in this bull run, with the possibility of the token reaching $20,000.

Overall, the news of Spot Ethereum ETFs potentially beginning trading by July 2 has sparked optimism in the crypto market, with many analysts predicting a bullish trend for Ethereum in the near future.