Ethereum spot ETF is about to be approved, analysts expect to start trading on July 2

Bloomberg ETF analyst Eric Balchunas announced that the industry’s highly anticipated spot Ethereum ETF is expected to launch trading on July 2.

According to Balchunas, the U.S. Securities and Exchange Commission (SEC) has sent brief comments to ETF issuers on the S-1 filing and asked them to respond within a week.

This move by the SEC shows that it is likely to declare the ETF effective next week, allowing related products to start trading before the holiday weekend.

SEC Approval Process Nearing Completion

The SEC has approved Form 19b-4 for eight Ethereum ETF issuers, including BlackRock, Fidelity, and VanEck. However, for an ETF to be officially listed for trading, the SEC must also approve Form S-1.

SEC Chairman Gary Gensler recently hinted that the Ethereum ETF’s Form S-1 would likely be approved this summer, a prediction that was confirmed during his Senate Appropriations Committee hearing earlier this week.

Ethereum price expectations and market reaction

Asset management firm VanEck predicts that the price of Ethereum (ETH) could reach $22,000 by 2030, based on expectations that the currency will generate $66 billion in "free cash flow."

The launch of the spot Ethereum ETF is expected to attract significant institutional capital, with Standard Chartered’s Geoff Kendrick estimating that inflows could be between $15 billion and $45 billion in the first year.

Singapore-based cryptocurrency trading firm QCP Capital predicts that the approval of a spot Ethereum ETF could trigger a significant increase in the price of ETH, which could reach 60%, similar to the market reaction after the approval of a spot Bitcoin ETF in January.

Conclusion

As the listing date of the spot Ethereum ETF approaches, the market expects that this financial innovation will bring a new investment boom to Ethereum. The SEC’s approval not only provides investors with new investment avenues, but may also drive a significant increase in the price of Ethereum. The industry is closely watching the SEC’s final decision and its far-reaching impact on the cryptocurrency market.

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