ETF Ethereum Spot Expected to Launch Mid-July 2024!

Bittime - The launch of the Ethereum-based Exchange-Traded Fund (ETF), which many people have been waiting for, is predicted to take place in mid-July. Experts predict that at least one of the approved Ethereum Spot ETFs will start trading on July 15, 2024.

Ethereum Spot ETF Expected to Launch July 15, 2024

According to Nate Geraci, President of The ETF Store, the United States Securities and Exchange Commission (SEC) is expected to approve the required S-1 documents on July 12. This allows the Ethereum ETF to begin trading on July 15. 

Check Today's Crypto Market:

Geraci's predictions align with Bloomberg crypto analyst Eric Balchunas. Balchunas mentioned that the SEC has set July 8 as the deadline for ETF issuers to amend their S-1 documents before the potential launch of an Ethereum ETF.

Steve Kurz, head of asset management at Galaxy Digital, also confirmed this prediction. In his interview with Bloomberg, Kurz predicted the SEC would approve an Ethereum ETF for trading before the end of July. 

He estimates approval will come in weeks, not days. Kurz also shared that his company has been working with the SEC for months and their upcoming Ethereum ETF has similarities to the Spot Bitcoin ETF they already have.

ETF Ethereum Beri Positive Impact on the Crypto Market

The launch of the Ethereum ETF is expected to have a positive impact on the crypto market.

Although Ethereum has not shown strong bullish momentum since April, crypto analysts from K33 Research estimate that an Ethereum ETF will absorb 0.75% to 1% of the total Ethereum in circulation in the first five months of launch. They argue:

"ETFs are a powerful catalyst to strengthen Ethereum as summer continues and investment flows increase. I see the current price of ETH/BTC as a good opportunity for patient investors."

Also Read How To Buy Crypto:

K33 Research's predictions are in line with Gemini's predictions. They estimate that $5 billion will flow into the ETF in the first six months. 

The research firm further revealed that news of the Ethereum ETF approval has impacted the ETH/BTC ratio, which depreciated from 0.056 to 0.046 after the Bitcoin ETF was launched. However, the ratio has now rebounded to 0.055 along with hopes of an Ethereum ETF being approved soon.

Thus, the potential launch of an Ethereum ETF could have a positive impact on the crypto market and could even reignite the bullish trend for Ethereum. 

Furthermore, this could also lead to the approval of more other crypto ETFs, such as Solana, XRP, and others, which could ultimately increase the adoption of digital assets globally.

How To Buy Crypto With Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn How to Buy Crypto on Bittime.

Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.