As July moves, anticipation makes space in the crypto community regarding the crucial launch of spot Ethereum ETF. Nate Geraci, president of The ETF Store, predicts that trading for Ethereum ETFs could commence by July 15, following the expected final S-1 approval from the SEC around July 12.
Wen spot eth ETF?
— Nate Geraci (@NateGeraci) July 3, 2024
BBG sticking w/ mid-July.
Amended S-1s due July 8th.
Potential final S-1s by July 12th.
Would theoretically mean launch week of July 15th.
via @emily_graffeo @olgakharif pic.twitter.com/NG8xhtCP21
Recently, the SEC returned S-1 filings for Ethereum ETFs to issuers for minor adjustments, signaling progress toward regulatory clearance. Steve Kurz, head of asset management at Galaxy Digital, expressed confidence in the approval process, comparing it to previous Bitcoin ETF efforts and emphasizing familiarity with regulatory requirements.
“This is window-dressing, the SEC is engaged. We’ve been doing this for months now. We did it for the Bitcoin ETF, the products are substantially similar — we know the plumbing, we know the process.”
K33 Research Analysts suggest that the approval of Spot Ethereum ETF could have a huge impact on market dynamics. They anticipate significant inflows into Ethereum, potentially absorbing up to 1% of circulating ETH within five months of the launch. Even Gemini also believes in approximately $5 billion in inflows within the initial six months.
Furthermore, K33 Senior Analyst Vetle Lunde views the current ETH/BTC ratio as favorable for patient traders, expecting Ethereum to outperform Bitcoin as ETF-related flows accumulate over the summer.
“ETFs are a solid catalyst for relative ETH strength as the summer progresses and flows accumulate, and I firmly view current ETH/BTC prices as a bargain for the patient trader.”
Overall, the launch of Ethereum ETFs is seen to be a key event in the crypto market, reshaping investor sentiment, leading to an ETH Bull Run, and affecting capital flows as regulatory hurdles clear.
Stay tuned at ReadingCrypto for quick updates on the approvals!
