As an analyst with a background in cryptocurrency and experience following the regulatory landscape, I find the recent update from Eric Balchunas and James Seyffart of Bloomberg on the potential launch date for Spot Ethereum ETFs to be intriguing. Their shift from July 4th to July 2nd as the over/under date is significant, considering the uncertainty surrounding the SEC’s approval process.
As a researcher, I’ve noticed that the debate surrounding the commencement of trading for Spot Ethereum Exchange-Traded Funds (ETFs) has gained significant traction lately. Recently, my colleagues Eric Balchunas and James Seyffart at Bloomberg have provided an insightful update on their predictions regarding the timeline for the launch of these funds.
Spot Ethereum ETFs To Begin Trading By July 2
As a researcher following the developments of Ethereum ETFs, I’ve come across an update from Balchunas, who shared on X (formerly Twitter) that they have shifted the anticipated launch date for these exchange-traded funds to July 2. The reason behind this change is that they’ve been informed that the Securities and Exchange Commission (SEC) has sent comments on the S-1 filings of various fund issuers. These comments, according to Balchunas, are described as “pretty light,” suggesting no significant issues have arisen. Fund issuers are expected to submit their amended registration statements within a week following receipt of these comments.
The Bloomberg analyst indicated that it’s likely the SEC will make these S-1 filings valid within the coming week, and they plan to process their approval prior to the upcoming holiday weekend. However, he cautioned that anything could still change but that’s the current forecast.
Bloomberg analysts earlier predicted that Spot Ethereum Exchange-Traded Funds (ETFs) would debut on the market by July 4th. However, according to Balchunas, this date has now been revised to July 2nd. Although this change is not substantial, it’s worth noting as there have been indications that the launch process for these ETFs could be delayed further.
As an analyst, I can explain that they set July 2nd as the pivotal date for determining whether to increase or decrease the over/under based on their current indecisiveness. Their most recent prediction brings positivity to the crypto market amidst uncertainty caused by SEC Chair Gary Gensler’s recent comment.
During his testimony before the Senate Banking Committee on June 13, Gensler indicated to Senator Hagerty that it’s expected for the S-1 applications for Spot Ethereum ETFs to be granted “during the summer season.” This implies that the approval process may extend until the late summer months, which is around September.
Spot ETFs To Propel ETH To $10,000
As a crypto investor, I’m excited about the upcoming trading of Spot Ethereum ETFs. According to crypto expert Ash Crypto and analyst Eljaboom, hitting the $10,000 mark for Ethereum is not a question of if, but when. These funds are expected to significantly influence Ethereum’s price once they become available. In fact, both experts believe that $10,000 is an inevitable milestone in this crypto cycle for Ethereum.
CrediBULL Crypto, a well-versed cryptocurrency analyst, expressed his belief that Ethereum will reach at least $10,000 during this ongoing bull market. Moreover, he speculated that the second-largest crypto token might surge as high as $20,000 due to its resemblance to Bitcoin‘s peak price in the 2017 bullish trend.
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2024-06-15 19:16