I’d Be ‘Shocked’ If Ethereum ETFs Don’t Trade Soon, Expert Says — Here’s When to Expect the SEC Nod – DL News

• The launch of Ethereum spot ETFs is expected to shake up cryptocurrency markets.
• Investors are expected to pour $500 million into the fund in the first week.
• The question is when ETFs will start trading.

The cryptocurrency industry’s high hopes for the launch of spot Ethereum ETFs this week are fading.

While some pundits approached the Independence Day weekend with the prediction that ETFs could begin trading as early as this weekETF Store President Nate Geraci says the launch is most likely to occur the week of July 15.

He She said would be shocked if spot ETH ETFs don’t launch within the next two weeks.

The delay is a minor inconvenience after market watchers had already pushed back their launch estimates from the week of July 4th to after July 8th.

It is crucial to determine when the Securities and Exchange Commission will greenlight the next batch of ETFs.

When the SEC approved 11 spot Bitcoin ETFs in January, it triggered a market rally that saw Bitcoin hit record highs.

According to CoinGecko, if spot Ethereum ETFs can replicate this success, they could lift the cryptocurrency out of last week’s crash, which saw the total value of the sector fall by nearly 20%.

Experts estimate that investors will pay up to 500 million dollars AND 15 billion dollars in new funds in the first week and in the first 18 months respectively.

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However, experts continue to push back the estimated launch date, while the regulator repeatedly asks applicants such as Blackrock and Fidelity to amend their applications.

“No one really knows why the SEC is taking this easy, given how casual the comments have been, they could easily have been traded by now,” said Erich Balchunas, an analyst at Bloomberg Intelligence. tweeted.

“It could be a ‘problematic’ broadcaster slowing down the process or just summer laziness or people on vacation. I’m not sure.”

He added that all indications are that the launch will still take place this month.

The drivers of the cryptocurrency market

• Over the past 24 hours, Bitcoin has dropped by 0.2%, settling at around $56,809.
• Over the same period, Ethereum rose by 1.5% to around $3,012.

What are we reading?

Eric Johansson is the editor-in-chief of DL News. Got a tip? Email eric@dlnews.com.

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