An announcement was made regarding the date on which the highly anticipated spot Ethereum ETFs will begin trading.

Bloomberg Senior ETF analyst Eric Balchunas stated in a recent post that spot Ethereum exchange-traded funds (ETFs) will begin trading on July 23. Balchunas explained that Nate Geraci's predictions were confirmed and the U.S. Securities and Exchange Commission (SEC) finally got back to issuers, asking them to submit final S-1 filings by Wednesday, with the launch set for July 23. Unless there is a last minute problem, this date will be valid.

After Balchunas' statements, both companies that applied for the spot Ethereum ETF confirmed this date. According to the news reported by CoinDesk Global, sources on the subject confirmed that spot Ethereum ETFs will launch on July 23.

Following the ETF news, Ethereum outperformed Bitcoin in the last 24 hours.

What will be the impact on the price?
The Spot Bitcoin ETF was approved on January 10, which legitimized Bitcoin among institutional investors. Until then, the price had gone through a period of rises and fluctuations in anticipation of ETF approval. Billions of dollars entering the market after approval increased Bitcoin from 30 thousand dollars to 74 thousand dollars.

Ethereum, on the other hand, has so far failed to show any significant price movement regarding spot ETF approval, leaving its investors in uncertainty. If the post-approval process proceeds as it does for Bitcoin, increasing institutional demand for Ethereum is expected to push the price up. Additionally, the FED's interest rate reduction policy and positive changes in macroeconomic conditions may contribute to the rise of Ethereum as an ETF-approved asset.

However, as an alternative scenario, if the "sell the news" approach occurs, the price may not show the expected rise. According to CoinGecko data, Ethereum, which has increased by 2.6% in the last 24 hours, is traded at $ 3,400 at the time of writing.

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