Nate Geraci, president of The ETF Institute, hints at a potential mid-July launch for spot Ethereum (CRYPTO: ETH) ETFs, a move that could significantly impact the cryptocurrency market.
What Happened: Geraci, who has previously made headlines for his predictions on the potential approval dates, took to X Tuesday to discuss the timeline for the launch of spot Ethereum ETFs.
Geraci underlined that the amended S-1s are due by July 8, in line with Bloomberg’s forecast, with potential final S-1s by July 12. This would theoretically mean a launch in the week of July 15.
See Also: Peter Schiff Says ‘Things Will Likely Get Much Worse From Here’ For Bitcoin Investors, But 3 BTC Metrics Are Flashing Bullish Signals, According To Expert
The approval of the 19b-4 forms in May got ETFs one step closer to being launched for trading. The SEC asked the ETF applicants to submit the revised S-1 registration statements, the final hurdle before the cryptocurrency funds become a reality, by July 8.
Why It Matters: Speculation around investment vehicles tracking spot prices of the world’s second-largest cryptocurrency has surged, with Bloomberg ETF analyst Eric Balchunas pushing back the entire process to July 8.
The launch of spot Ethereum ETFs could have significant implications for the cryptocurrency market. Cryptocurrency exchange Gemini estimates net inflows of up to $5 billion within the first six months of trading. This influx of capital could potentially push Ethereum’s value in U.S.-based spot ETFs to $13–$15 billion by the end of the year.
Price Action: At the time of writing, Ethereum was exchanging hands at $3,384.45, down 1.87% in the last 24 hours, according to data from Benzinga Pro.
Read Next:
- Joe Biden To Be Replaced In 2024 Election? Newsom Tops Democrat Wish List, Betting Odds, But Says ‘We’ve
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
