Cryptocurrency market analysis company K33 Research said that once the Ethereum spot ETF is approved for listing in the United States, the market for Ethereum is expected to be greatly encouraged, and the price performance will outperform Bitcoin in just a few weeks. According to Nate Geraci, president of The ETF Store, the Ethereum spot ETF is likely to be listed during the week of July 15.
K33 Research analysts Vetle Lunde and David Zimmerman pointed out in a report published on Tuesday that the price of ether "is expected to fall immediately when the ETF is launched," but as funds continue to pour into these funds, it is expected to drive the price of ether On the other hand, Bitcoin will face selling pressure as Mt. Gox begins to pay back funds to creditors.
Vetle Lunde wrote: "As the summer progresses and capital inflows accumulate, ETFs will become a powerful catalyst for Ethereum strength. For more patient traders, I think the current ETH/BTC price is relatively cheap."
The two analysts also expect net inflows into the Ethereum spot ETF to reach 0.75% to 1% of Ethereum’s circulating supply within 5 months of listing, and therefore maintain a bullish view on Ethereum’s trend.
Vetle Lunde and David Zimmerman said that the market still "stubbornly" disagrees with their view. Despite this, the number of open contracts in Ethereum futures is still increasing, indicating that many traders are using high leverage to bet on Ethereum. The potential price movement of the currency before the launch of the ETF.
As for when will the Ethereum spot ETF be unveiled?
Nate Geraci, president of The ETF Store, disclosed in an article that the reason why Bloomberg insisted that these funds would be launched in mid-July was because the deadline for receiving the "Amended Registration Statement (Form S-1)" is July 8. The deadline for the final S-1 form is approximately July 12. In other words, the Ethereum spot ETF will most likely open for trading the week of July 15th.
Wen spot eth ETF?
BBG sticking w/ mid-July.
Amended S-1s due July 8th.
Potential final S-1s by July 12th.
Would theoretically mean launch week of July 15th.
via @emily_graffeo @olgakharif pic.twitter.com/NG8xhtCP21
— Nate Geraci (@NateGeraci) July 3, 2024
〈The U.S. Ethereum spot ETF is expected to be listed in mid-July! Analysts firmly believe that currency price performance will outperform Bitcoin> This article was first published in "Blocker".
