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Author: Tom Mitchelhill, CoinTelegraph; Compilation: Whitewater, Bitchain Vision
Ethereum has already exceeded $3,300 amid expectations that the spot ETH exchange-traded fund (ETF) will be launched as soon as this weekend.
According to TradingView, ETH is currently trading at $3,331, up 16% from the $2,909 price last week.
ETH rose 13.7% last week before the much-anticipated ETF launch.Source: TradingView.
ETF analyst and president of ETF Store Nate Geraci predicts X that there will be eight spot ETH ETFs launched this weekend.
“Welcome to ETH ETF Approval Week. Not sure about the specifics, just can’t think of a good reason to delay further,” Geraci wrote in a July 14 X post.
Source: Nate Geraci
In line with Geraci, an anonymous source close to the litigation process noted on July 12 that the spot ETH fund is expected to be launched before the end of this week.
Several issuers, including VanEck and 21Shares, filed revised registration documents last week, hoping to obtain final approval from the SEC to begin listing spot Ethereum ETFs.
Many analysts believe thatThe launch of ETFs will be the main catalyst for ETH prices in the coming months.
Tom Dunleavy, managing partner of cryptocurrency investment firm MV Global, notes,He expects the funds to attract up to $10 billion in new inflows within the months following their launch, which will allow Ethereum prices to soar to record highs by the end of the year.
Dunleavy also said that contrary to the general perception of other ETF analysts,Compared to Bitcoin ETFs, Ethereum ETFs are “easier to sell” for Wall Street.
Source: Anthony Sassano
“We believe that if traditional investors can understand a clearer narrative, then buying pressure will be great. ETH has cash flow. It can be described as a tech stock, an app store for cryptocurrencies, or an internet bond,” Dunleavy wrote.
“It’s easier to market for financial advisers than ‘digital gold’.”
He added that ETH’s price movement — which has been lagging against Bitcoin for the past 18 months — will rebound quickly after the fund launch.
