Ether (ETH) Price Tops $3,300 Amid Anticipation That Spot ETH ETFs Could Launch This Week

The price of Ether has topped $3,300 amid anticipation that spot ETH exchange-traded funds (ETFs) could launch as soon as the end of this week.

The price of Ether (ETH) has crossed the $3,300 mark as anticipation builds for the potential launch of spot ETH exchange-traded funds (ETFs) by the end of this week.

According to TradingView data, ETH is trading at $3,331 at the time of writing and has seen a 16% gain over the past week, rallying from $2,909.

However, some analysts, such as ETF analyst and president of The ETF Store Nate Geraci, have been more optimistic in their forecasts, predicting the launch of eight spot ETH ETFs by the end of this week.

“Welcome to spot ETH ETF approval week. Don’t know anything specific, just can’t come up [with] good reason for any further delay at this point,” wrote Geraci in a July 14 Twitter post.

An anonymous source close to the proceedings also told Cointelegraph on July 12 that the spot ETH funds were expected to launch by the end of this week.

Several issuers — including VanEck and 21Shares — filed amended registrations last week in hopes of receiving the final signoff from the SEC to begin listing spot Ether ETFs.

Many analysts now tip the launch of the ETFs to be a major catalyst for the price of ETH in the coming months.

Tom Dunleavy, a managing partner at crypto investment firm MV Global, told Cointelegraph that he expects the funds to attract up to $10 billion in new inflows in the months following their launch, something that will see Ether prices surge to new all-time highs by the end of this year.

In contrast to popular opinion among other ETF analysts, Dunleavy also said that Ether ETFs would be an “easier sell” to Wall Street compared to Bitcoin ETFs.

“We believe that there will be strong buy pressure with a much more clear narrative that traditional investors can understand. ETH has cashflows. It can be described as a tech stock, the app store of crypto, or an internet bond,” Dunleavy wrote in a Q2 investor note shared with Cointelegraph.

He added that ETH’s price action — which has lagged relative to Bitcoin (BTC) over the past 18 months — would rebound quickly following the launch of the funds.

Related: X Hall of Flame: Ethereum’s recent pullback could be a gift — Dynamo DeFi

The above is the detailed content of Ether (ETH) Price Tops $3,300 Amid Anticipation That Spot ETH ETFs Could Launch This Week. For more information, please follow other related articles on the PHP Chinese website!