Bloomberg: VanEck submits key documents to SEC! More confident that the 7/2 Ethereum spot ETF can be listed

This site (120btC.coM): The U.S. Securities and Exchange Commission (SEC) officially approved the 19b-4 trading rule change documents for 8 Ethereum spot ETFs on May 24, taking an important step towards the listing of Ethereum spot ETFs. In the next step, the market is paying close attention to when the SEC will approve the S-1 registration statement document and officially go public. Bloomberg ETF analyst Eric Balchunas, who accurately predicted the approval time of the Ethereum spot ETF19b-4 document, expected in mid-month that the SEC is likely to formally approve these ETFs next week and advance their predicted Ethereum spot ETF listing date to "July 2 day". This month, SEC Chairman Gary Gensler said loosely that he expected the SEC to approve the final key document for the Ethereum spot ETF - the S-1 registration application "sometime this summer." Gensler said in an interview with Bloomberg today (26th): "I don't know the specific time (Ethereum spot ETF issuance), but it is going smoothly." Bloomberg analyst: VanEck submitted key documents just last night, Bloomberg analyst Eric Balchunas gave further evidence on the community platform Form 8-A. This bodes well for our forecast of July 2 (seven days from now). However, anything can happen. We'll hear more soon. Markus Thielen, CEO of the investment research institution 10xResearch, also published a prediction on X earlier today, believing that the Ethereum spot ETF may be approved on July 2. In addition, Thielen also mentioned that the Ethereum spot ETF is generally expected to attract 15% to 20% of the inflows of the Bitcoin spot ETF, which is US$2.8 billion. This is equivalent to the increase in open interest in Ethereum perpetual futures since the news on May 21 (the probability of Ethereum spot ETF passing increased). “The market has prepared for the approval of (Ethereum spot ETF)” The market has two polar opinions on the ETH price performance after the adoption of the Ethereum spot ETF. However, the market view does not reach a consensus on the ETH price performance after the adoption of the Ethereum spot ETF: multiple opinions Digital asset trading company QCP Capital believes that if the Ethereum spot ETF can capture 10% to 20% of the flow of the Bitcoin spot ETF, it may push the price of ETH to exceed $4,000 and approach its historical high of $4,800. On the contrary, Andrew Kang, co-founder of Mechanism Capital, is bearish on the future trend of ETH. He predicts that the Ethereum spot ETF will have limited ability to attract money after the launch of the ETF. After the launch of the ETF, he predicts that the price of ETH will be between US$2,400 and US$3,000. Bernstein, a well-known Wall Street investment bank, pointed out in a report on Monday (24) that due to the lack of Ethereum staking function, the conversion volume of Ethereum spot ETF is not expected to be excessive.

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