The U.S. Securities and Exchange Commission (SEC) is reviewing proposals for Ethereum ETFs, with issuers expected to submit revised forms by early July. Despite regulatory hurdles and delays, this step marks progress towards a potential launch. The delay has led to a dip in Ethereum prices, with the cryptocurrency recently dropping close to $3200 but showing potential for a rebound above $3500.

Market reaction to the SEC's delay has been cautious, with the price entering a correction phase. However, the focus on the potential ETF launch is driving trader interest, with call options targeting $4000 for September. Looking forward, the approval of Ethereum ETFs remains a possibility this summer. As the market awaits the SEC's final decision, analysts expect Ethereum’s price to test lower support zones before launching into a new upswing. The introduction of ETFs could increase adoption and market activity, potentially propelling Ethereum’s price above $4000.