Author: Frederick Munawa Source: unchainedcrypto Translation: Shan Oppa, Bitchain Vision

According to industry experts,The highly anticipated spot Ethereum (ETH) exchange-traded fund (ETF) could be listed as early as July 23.Similar to the launch of 11 spot Bitcoin (BTC) ETFs in January this year, the resulting surge in demand may drive ETH prices, but the increase may not be as significant as Bitcoin, which hits its spot ETFs after they go public.A record high.The scale of this success may have a smaller impact on Ethereum than on Bitcoin.

Bitcoin is a pioneer.Bitcoin is primarily a financial asset used as a safe haven asset, while Ethereum’s value stems from the level of activity of developers on its platform.

The latest developments in Ethereum began in late May when the Securities and Exchange Commission (SEC) unexpectedly approved the “Sign Up” from BlackRock, Bitwise, Grayscale, Van Eck, Ark 21Shares, Fidelity, Franklin Templeton and Invesco GalaxyTable 19b-4 of the spot Ethereum ETF.These forms are a key part of the pre-examination process for the SEC ETF approval process.

Now, these entities need to submit the final S-1 form by today,If approved, the listing of spot Ethereum ETFs will be approved as soon as next Tuesday, which could be a big boon for ETH investors.

“ETFs may usher in a large amount of capital inflows,” cryptocurrency investor Lark Davis told Unchained.Even if there is some price fluctuation in the first day or two of these products on the market, positive factors are gathering.

According to CoinMarketCap data,Ethereum price rose about 30% to $3,943 before falling below $3,000 earlier this month.Ethereum is currently trading at about $3,445, up more than 12% from last week.

Pedro Lapenta, research director at Hashdex, an investment firm that manages Bitcoin futures ETFs, expects that by the end of 2024, the inflow of funds to Ethereum ETFs will reach about $5 billion.However, Lapenta told Unchained that continuing price movements may take time.

We believe that the price of ETH will react positively in the short term, and the real impact of these ETFs on prices will be revealed over a longer period of time.

Trump Factor

The entire cryptocurrency market is also boosted by the prospect of Donald Trump as president, who led the current president Joe Biden in polls after thwarting assassination attempts last Saturday.

Trump has been criticizing cryptocurrencies before, sayingIf he wins the November election, he will become a president who supports cryptocurrency.In May this year, he became the first major presidential candidate in U.S. history to accept donations from cryptocurrencies.

However, Bill is skeptical of the impact of Trump’s potential victory on long-term cryptocurrency prices, noting that the U.S. president often violates campaign commitments.

I would love to believe that Trump will continue to support cryptocurrencies after taking office, but unfortunately, there is no reason for me to believe this.

If the spot Ether ETF is launched next week, it will be launched ahead of the annual Bitcoin conference in Nashville on July 24, when Trump will be present as a special guest.Trump has confirmed that despite his injuries in the assassination, he will still speak at the meeting.

The controversial former president has received $1.8 million in Bitcoin donations and nearly $1 million in Ether, according to the Wall Street Journal.According to NFT website nftevening.com, he also launched the “Mugshot Edition” NFT last year after being sued for election fraud, in addition to his other collections, including U.S. President Trump’s NFT collection and DonaldtTrump’s NFT collection.

Instead, many believe that President Joe Biden is completely against cryptocurrency because the SEC took hostile stance against many cryptocurrency companies during his administration.Biden himself rejected the proposal to repeal SAB 121—a SEC accounting standard that makes it cumbersome for banks to serve cryptocurrency clients.

Before the veto, Trump’s campaign seemed to criticize Biden’s stance on cryptocurrency regulation, touting Trump’s record on “financial technological innovation”, while also criticizing Biden’s stricter cryptocurrency policy.

Unlike Bill, Davis told Unchained that he hopes Trump can fulfill his commitment to cryptocurrency.

“I think the White House can issue some very positive cryptocurrency announcements and regulations,” Davis said.“This is a strange bullish moment for the market.”

Regardless of the election results and the resulting crypto-regulatory landscape, most analysts believe that spot Ethereum ETFs will boost ETH prices in the long run, even if prices fluctuate shortly after launch.

“regardless of the short-term price movements for BTC and ETH, we believe that the long-term investment outlook for cryptocurrencies is as strong as ever,” Lapenta said.“Current prices could provide a very attractive entry point for long-term investors.”