Super big event in the currency circle!!!

The long-awaited grand event for cryptocurrency enthusiasts is coming!

The spot Ethereum ETF is expected to be launched on July 2. The news released by the analysis room Eric Balconys has made the financial world boil. SEX seems to be ready to give the green light. Will this change the price of Ethereum?

Please keep reading!

To learn about the latest developments and their significance for the future of Ethereum!

SAC approval process and timetable Eric welcome ideas CK sent a brief comment to the ETF issuer on the S1 document, asking for a response within a week, which indicates that the SCA is likely to announce the ETF next week. CK has approved the 19B4 form of 8 Ethereum ETF issuers, including industry giants such as BlackRock Fidelity and Vanak, and the final approval of the CE form is still the last hurdle before the start of trading. SAC Chairman Gail Regansl made a formal hint at the recent Senate Appropriations Committee hearing.

Ethereum ATF's SE form has been approved and signed, and of course it may be greenlit as early as this summer. Bullish forecasts and sentiment asset management company Wonac predicts that the future is bullish, with a target price of $22,000 by 2030. This forecast is based on the $66 billion in free cash flow that Ethereum is expected to generate in the next decade. In addition, the launch of the spot Ethereum ETF is expected to attract a lot of institutional capital. Jeff Pander of Standard Chartered Bank estimates that the inflow of funds in the first year will be between $15 billion and $45 billion. QCP capital, a cryptocurrency trading company based in Singapore, and Ethereum prices will rise sharply. It is expected that the price of ETH will rise by 60% after the approval of the spot Ethereum ETF. This optimism is based on the short-term challenges of Ethereum observed in the market reaction to the approval of the spot Bitcoin ETF earlier this year.

Despite these bullish predictions, Ethereum still faces short-term price challenges. Currently priced at $3,560, the cryptocurrency has struggled to break through key resistance levels, causing traders to remain cautious as prices hover below $3,570. If Ethereum fails to maintain support above $3,420, there is potential downside risk and it could fall further to $3,250 levels. The coming weeks will be critical for Ethereum and the broader cryptocurrency market as the expected approval and launch of a spot Ethereum ETF could significantly affect market dynamics and investment sentiment.