Discussions about when Spot Ethereum ETFs will probably start trading, it’s still heating up. This time, Bloomberg analyst Eric Balchunas and another Bloomberg analyst James Seyffart provided an update on the expected date of commencement of trading in these funds.
Trading in Ethereum Spot ETFs will begin on July 2
Balchunas given on X (formerly Twitter) post that they are moving the “over/under” launch date for Spot Ethereum ETFs to July 2. He revealed that they had heard that Securities and Exchange Commission (SEC) sent fund issuers comments on their respective S-1 filings. The comments are believed to be “fairly light” and nothing grave, and the fund issuers are expected to file amended registration statements within the week.
The Bloomberg analyst claimed there was a good chance the SEC would consider S-1 filings effective next week, and that Order will be working to get them approved before the holiday weekend. He added that everything is possible, but this is the schedule for now.
These Bloomberg analysts do previously set July 4 as the upper/lower date for the launch of Spot Ethereum ETFs. Balchunas admitted that the recent postponement from July 4 to July 2 wasn’t huge, but still significant considering it was starting to look like it might take longer for the Spot to arrive Ethereum ETFs beginning.
He also explained that they decided on July 2 as the over/under date because then they are undecided whether to go lower or higher. Their latest projection is also good news, considering that SEC Chairman Gary Gensler has sent the cryptocurrency community into limbo with his latest comments.
One sec addressing the Senate Banking Committee June 13 Gensler he said Senator Bill Hagerty says S-1 filings for Spot Ethereum ETFs will likely be approved “within this summer.” In this statement, it was possible to approve these funds only at the end of the summer, i.e. sometime in September.
Spot ETF that will push ETH to $10,000
Place Ethereum ETFs they are expected to have a huge impact on Ethereum’s price once trading begins. Cryptocurrency expert Ash Crypto I recently mentioned that it is only a “matter of time” for Ethereum to reach $10,000 and trading in these funds will begin soon. Eljaboom cryptocurrency analyst also referred to Ethereum Spot ETFs, stating that $10,000 was “programmed” for Ethereum this cycle.
CrediBULL Crypto cryptocurrency analyst stated that $10,000 is his minimum target for Ethereum in this bull run and added that the second largest crypto token it can go up to $20,000 as it matches Bitcoin’s 2017 bull run high.
Featured image created with Dall.E, chart from Tradingview.com
