Spot Ethereum ETFs Expected To Start Trading July 2nd, Could This Boost ETH To $10,000?

Discussions around there Spot Ethereum ETF share price they will probably start trading and continue to heat up. At this time, Bloomberg analyst Eric Balchunas and a Bloomberg analyst James Seyffart shared an update on when they expect these funds to begin trading.

Spot Ethereum ETFs Will Start Trading July 2nd

Balchunas says on X (formerly Twitter) posted that they are moving their “top/bottom date” for the launch of Spot Ethereum ETFs to July 2. He stated that they had heard that Securities and Exchange Commission (SEC) submit comments to fund issuers regarding their S-1 filings. These words are said to be “very simple” and mean nothing, as fund issuers are expected to file their amended registration statements within a week.

Related Reading

I Bloomberg analyst indicated that there is a good chance that the SEC will announce these S-1 filings that are effective next week and that Commission will work on self approval before the holiday weekend. He added that anything could happen but that’s the timeline they’re currently working with.

These Bloomberg analysts had previously have set July 4th as their top/bottom launch date for Spot Ethereum ETFs. Balchunas admitted that the recent change from July 4 to the second was not a big one but still significant, as it was starting to feel like it could take a long time before Spot. The cost of Ethereum ETF shares get started.

He also clarified that they have decided that July 2 will be an over/under date because that is where they are staying and have not yet decided whether to go down or not. Their latest speculation is also good news, considering that SEC Chairman Gary Gensler has thrown the crypto community into a quandary with his recent comments.

While speaking to the Senate Banking Committee June 13, Gensler he told Senator Bill Hagerty said the S-1 filing for the Spot Ethereum ETF will likely be approved “by the middle of this summer.” This statement indicated that it is possible that these funds may not be approved until the end of the summer, which will be in September.

Spot ETFs To Drive ETH To $10,000

It’s a stain The cost of Ethereum ETF shares they are expected to have a significant impact on the price of Ethereum once they start trading. Crypto expert Ash Crypto he recently said that Ethereum reaches $10,000 “a matter of time,” these funds will start trading soon. Crypto analyst Eljaboom it also refers to the Spot Ethereum ETF when it says $10,000 is “scheduled” for Ethereum this cycle.

Related Reading

Crypto Analyst CrediBULL Crypto he said $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 because it coincides with Bitcoin’s high in the 2017 bull run.

The featured image was created with Dall.E, a chart from Tradingview.com