Bloomberg Analyst Gives This Date for the Critical Opening in Ethereum

Bloomberg's senior ETF analyst Eric Balchunas made a prediction about the critical decision expected for Ethereum.

Bloomberg senior ETF analyst Eric Balchunas thinks spot Ethereum (ETH) exchange-traded funds (ETFs) will hit the market in the next few weeks.

gave this date

The US Securities and Exchange Commission (SEC) accepted 19b-4 applications for spot Ethereum ETFs. In order for them to enter the market, their S-1 forms also need to be approved.

Bloomberg analyst Balchunas announced that the SEC has started to respond to issuer companies regarding their S-1 forms.

The SEC did not require any major changes to the S-1 filings and gave issuers one week. Balchunas thinks that spot Ethereum ETFs could be established on July 2.

Ethereum price is falling

The Bitcoin (BTC) price rose after spot Bitcoin ETFs in the United States began trading in January. Bitcoin broke its own all-time price record in March.

According to CoinGecko data, Ethereum has lost value along with Bitcoin in the last few days. Accordingly, ETH lost 3.9% in value over the last seven days, falling to $3,545. During the same period, Bitcoin lost 4.5% of its value.

Ethereum broke its own price record on November 10, 2021, rising to $ 4,878.