Ethereum ETF to launch in mid-July? Predictions push its price above $7,000!

With the launch of an Ethereum exchange-traded fund (ETF) imminent in mid-July, market dynamics reveal major investor activity and regulatory updates. Ethereum (ETH) investment products saw significant outflows in the last week of June, with investors withdrawing $61 million, according to CoinShares’ weekly analysis.

This is the highest outflow since August 2022. Total outflows in the last two weeks of June reached $119 million, bringing the total outflows in June to $37 million. So far this year, Ethereum funds have seen outflows of $25 million, making it the worst performing asset in terms of net flows.

Analysts believe that Ethereum ETFs could outperform Bitcoin in the weeks following their launch. They predict that these ETFs, which could launch as early as July 15, could push the price of Ether higher. ETH is expected to rise to $7,500

Quinn Thompson, founder and CIO of Lekker Capital, recently said that the market is in "one of the most obvious and attractive cryptocurrency buying opportunities in recent times."  

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Thompson believes that by the November election, ETH will reach $7,000 and BTC will make its first attempt at $100,000.

They believe that the current structure sets a target of about $7,500 for Ethereum's final high, which is similar to the Fibonacci extension that appeared in 2021, which means that Ethereum will rebound strongly "soon"!

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