Spot Ethereum ETFs Could Arrive By Mid-July, Suggests Analyst Nate Geraci: 'Theoretically Means A Launch In The Week Of July 15'
Spot Ethereum ETFs Could Arrive By Mid-July, Suggests Analyst Nate Geraci: 'Theoretically Means A Launch In The Week Of July 15'
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.
Wen spot eth ETF?
— Nate Geraci (@NateGeraci) July 3, 2024
BBG sticking w/ mid-July.
Amended S-1s due July 8th.
Potential final S-1s by July 12th.
Would theoretically mean launch week of July 15th.
via @emily_graffeo @olgakharif pic.twitter.com/NG8xhtCP21
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.
Unfort think we gonna have to push back our over/under till after holiday. Sounds like SEC took extra time to get back to ppl this wk (altho again very light tweaks) and from what I hear next wk is dead bc holiday = July 8th the process resumes and soon after that they'll launch...
— Eric Balchunas (@EricBalchunas) June 28, 2024
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.
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