The price of Ethereum’s Ether (ETH) has rallied back above $3,300 as the long-awaited spot ETF exchange-traded funds (ETF) move closer to reality in the United States. One popular analyst anticipates that the ETH-based products could debut as soon as this week. 

As of press time, Ether is trading for $3,375, up 13.6% from a price of $2,905 in the last week, according to CoinGecko data.

Path To The Spot ETH ETF

The U.S. Securities and Exchange Commission (SEC) is expected to soon greenlight the launch of a handful of Ethereum-based exchange-traded funds (ETF) that can directly hold ETH.

Nate Geraci, president of the ETF Store, believes these ETFs will begin trading by the end of this week. In his opinion, there’s no reason for further delays as potential providers are ready for launch and recent filings require few modifications.

“Welcome to spot ETH ETF approval week. Don’t know anything specific, just can’t come up [with] good reason for any further delay at this point,” Geraci posited in a July 15 post on the X (aka Twitter) platform.

Anticipation for the trading of spot Ethereum ETFs has risen drastically since the SEC’s last-minute approval in May. While the regulator approved eight form 19b-4s, it has yet to green light individual S-1 filings from asset managers, which are required for trading to kick off.

Several would-be issuers, including VanEck and 21Shares, submitted amended filings this week in hopes of securing the SEC’s final regulatory blessing to start listing spot Ether ETFs on U.S. exchanges. It’s worth mentioning that applicants edited out the parts of their applications that would have allowed staking the ETH holdings in the fund to appease the regulator.

Implications For Ether 

The race to launch an ether ETF is already heating up. Asset managers Invesco and Galaxy revealed they would charge a 0.25% management fee for their proposed spot ETH ETFs, a little higher than VanEck’s 0.20%.

Industry pundits foresee the approval of spot ETH ETFs having a huge impact on the Ether market as well as the wider crypto industry. 

These spot ETH ETFs could attract remarkable retail and institutional capital into Ether, potentially mirroring the resounding success of spot Bitcoin ETFs. Bitwise CIO recently suggested the ETFs could draw in well over $15 billion in inflows within the first 18 months after the official launch — which would spark a massive surge in Ether’s spot price. 

Notably, other analysts expect Ether to outperform Bitcoin after the rollout of ETH ETFs.