Ethereum Price Prediction as Bloomberg Analyst Expects S-1 Approval By July 2nd – Will ETH Rally?
Ethereum is currently hovering slightly below its pivot point of $3,540, trading at $3,536. Bloomberg ETF analyst Eric Balchunas has raised eyebrows by predicting that spot Ether ETFs could begin trading as early as July 2nd.
This unexpected acceleration comes after reports that the SEC staff has given S-1 responses to ETF issuers, with Balchunas describing the comments as “pretty light” and “nothing major.”
Balchunas believes the SEC could finalize approvals before the Independence Day holiday weekend, significantly sooner than the September timeline previously indicated by SEC Chair Gary Gensler.
The approval of spot Ethereum ETFs in May came as a surprise to many, given the SEC’s long-standing resistance to such products. However, with the first hurdle of 19b-4 filings cleared, issuers are now awaiting approval of their S-1 registration statements before trading can commence.
S-1 Expected To Be Approved By July 2nd According To BBG Analyst Eric Balchunas: Tweet
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The prospect of these ETFs launching has sparked optimism among investors, with some predicting a significant rally in Ethereum’s price. Some analysts even foresee ETH reaching new all-time highs of $5,000-$10,000 this summer.
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However, it’s important to note that not everyone shares the same level of confidence. Some experts believe that spot Ether ETFs won’t see the same day-one inflow as spot Bitcoin ETFs due to the complexities of valuing Ethereum’s diverse use cases.
Despite the uncertainties, the potential launch of spot Ethereum ETFs marks a significant development in the cryptocurrency market. Investors should closely monitor the situation as it unfolds, as it could have a profound impact on Ethereum’s
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