The crypto world is buzzing with anticipation as experts predict the approval of a spot Ethereum ETF in the US by mid-July. This could trigger a significant price surge for ETH.
Timeline for ETF Launch
Nate Geraci, president of The ETF Store, predicts a mid-July launch for the first spot Ethereum ETF. The SEC has instructed issuers to amend their registration forms by July 8th, with potential final approvals by July 12th.
SEC Approvals Expected
Steve Kurz, head of asset management at Galaxy Digital, believes the SEC may approve a spot Ethereum ETF before the end of July. He highlights the extensive work done with the SEC, similar to the process for their existing spot Bitcoin ETF.
Ethereum Price Stability
The anticipation of ETF approvals has stabilized Ethereum prices. Analysts are optimistic about a breakout towards $4,000 in the coming months. Ethereum needs to hold support around $3,300-$3,350 to rally further.
Historical Perspective
Analyst Jelle compares the current market phase to Ethereum’s consolidation in 2016-2017, which preceded a massive rally. He encourages patience and optimism, reminding investors that the best is yet to come.
