Notable developments in the cryptocurrency market continue to come to the fore. Accordingly, Spot Ethereum Ethereum’s price has risen above $3,300 in anticipation of the launch of exchange-traded funds by the end of this week. Ethereum is currently trading at $3,331, up 16% from $2,909 last week, according to TradingView data.
What’s Happening on the Ethereum Front?
ETF analyst and president of The ETF Store Nate Geraci, He reported that eight spot Ethereum ETF listings would open by the end of this week via X, and shared the following statements on July 14: A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
“Welcome to Ethereum ETF approval week. I don’t know anything specific but I can’t see any good reason for further delay at this point.”
To Geraci According to an anonymous source familiar with the hearings, spot Ethereum funds are expected to launch by the end of this week, according to a July 12 report. Several issuers, including VanEck and 21Shares, filed amended registration applications last week in hopes of receiving final SEC approval to begin listing spot Ethereum ETF funds. Many analysts suggest that the launch of the ETFs will be a major driver of Ethereum’s price in the coming months.
Remarkable Statement from a Famous Name
Managing partner of crypto investment firm MV Global Tom Dunleavy, The manager said in a statement that he expects the funds to attract up to $10 billion in new inflows in the months following their launch, which he predicts will send Ethereum prices to all-time highs. He also said that contrary to popular opinion among other ETF analysts, Ethereum ETF funds will be easier sells for Wall Street than Bitcoin ETF funds:
“We believe there will be strong buying pressure, with a much clearer narrative that traditional investors can understand. Ethereum has cash flow.”
Dunleavy continued his statement: ETF He said his funds could be described as a tech stock, crypto app store or internet bond:
“This is for financial advisors digital a much easier sell than gold.”
The famous name added that the Ethereum price movement, which has lagged behind Bitcoin for the last 18 months, will recover rapidly after the funds are released to the market.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
