Issuers of the spot Ethereum ETF are set to submit their S-1 forms by Monday, allowing the SEC to review them once again. ETF Store President Nate Geraci anticipates that approval could come within the next two weeks.

Ethereum (ETH) price is facing significant selling pressure as the anticipated approval of spot Ethereum ETFs approaches. With the second week of July underway, attention is on the S-1 forms for these ETFs, which are expected to launch by July 15. Last week, the SEC asked issuers to make minor changes to their initial S-1 filings. Nate Geraci expects the revised forms to be submitted by Monday, July 8.

Ethereum ETF Approval: Key Developments and Market Predictions

Nate Geraci, President of the ETF Store, highlighted the importance of how swiftly the U.S. Securities and Exchange Commission (SEC) processes the amendments to the S-1 forms submitted by Ethereum ETF issuers.

According to Geraci, the focus will be on the fees associated with these ETFs. While some market players like Bitwise have already submitted their S-1 amendments last week, other issuers such as BlackRock, 21Shares, Fidelity, and Grayscale are expected to submit theirs by Monday.

Source: X

Geraci also mentioned that issuers are preparing for a potential ETF launch within the next two weeks, pending SEC approval. Market analysts are forecasting that the inflows into Ethereum ETFs could reach around $15 billion within the first six months post-launch. Despite the anticipation, Ethereum’s price has already dropped by 20% since the approval of the 19b-4 filings.

Ethereum Price Struggles Amid Market Uncertainty

After dropping below $3,000 last week, Ethereum bulls attempted to drive the price above $3,100 but could only maintain this level briefly. Over the past 24 hours, Ethereum’s price has declined by an additional 5.6%, falling to $2,871. The cryptocurrency’s market capitalization has now dipped below $350 billion.

As the approval of spot Ethereum ETFs approaches, it remains to be seen whether this will lead to a rebound in price or if bearish trends will continue to prevail.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.





#ETH #ETF #Ethereum #EthereumETF #Bitcoin $BTC $ETH $BNB