Ethereum spot ETFs to start trading July 2nd: Bloomberg analyst

SEC's nod to Ethereum ETFs could trigger a 60% ETH price rally.

Golden Ethereum ETF symbol, July launch.

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The highly anticipated launch of spot Ethereum ETFs is expected to occur on July 2nd, according to Bloomberg ETF analyst Eric Balchunas.

Balchunas revealed that the SEC has sent light comments on S-1 filings to ETF issuers, requesting their response within a week. This development suggests a strong possibility that the SEC will declare the ETFs effective the following week, allowing them to begin trading before the holiday weekend.

The SEC has approved 19b-4 forms for eight Ethereum ETF issuers, including BlackRock, Fidelity, VanEck and others. However, the SEC must approve the S1 forms before the ETFs can officially begin trading.

SEC Chair Gary Gensler recently hinted at the potential approval of the S1 for an Ethereum ETF during the summer, as stated in his testimony at a Senate Appropriations Committee hearing earlier this week.

Asset manager VanEck has projected Ethereum (ETH) to reach $22,000 by 2030, based on its anticipated generation of $66 billion in “free cashflows.”

The launch of spot Ethereum ETFs is anticipated to attract substantial institutional capital, with Standard Chartered’s Geoff Kendrick estimating inflows of $15 to $45 billion within the first year.

Singapore-based crypto trading firm QCP Capital predicts that the approval of spot Ethereum ETFs could lead to a 60% rally in ETH prices, similar to the market reaction seen after spot Bitcoin ETFs were approved in January.

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