Bloomberg Analyst Predicts June Launch Date for Spot ETH ETFs

Eric Balchunas, senior ETF analyst at Bloomberg, predicted that the launch of Ethereum spot ETFs could happen by the end of June.

Latest guidance follows recent predictions from BlackRock amendment in its Form S-1 filing for iShares Ethereum Trust, submitted to the Securities and Exchange Commission (SEC) on May 29.

This update came nearly a week after the SEC approved the filing 19b-4two essential steps for the ETF to begin trading.

“Good sign. [Probably] we will see rest soon,” Balchunas said in a May 29 X article.

Balchunas said there could be another round to “refine” the SEC’s comments, but he’s looking at a “late June launch.” [a] legitimate possibility. However, he kept his chances of approval for around July 4, noting that approval sooner would be a “long shot.”

James Seyffart, analyst at Bloomberg ETF echoes Balchunas’ sentiments suggest BlackRock’s updated S-1 demonstrates significant engagement between issuers and the SEC, indicating progress toward timely Ethereum ETF launches.

BlackRock’s amended S-1 included details about its seed investor – the entity funding the ETF’s initial trading activities.

On May 21, a BlackRock affiliate, acting as a seed investor, agreed to purchase $10,000,000 worth of stock, receiving 400,000 shares at a price of $25.00 per share, according to the folder.

The ETF will be listed and traded under the symbol “ETHA”.

The same day, Hashdex withdrew its offer for a spot Ether ETF, despite its approval by the SEC alongside BlackRock and seven other issuers.

Analysts predict that these ETFs propel ETH to new heightswith some speculating that Wall Street will use them as a bet on the growth of web3.

“The green light from the US Securities and Exchange Commission (SEC) for spot Ether ETFs is a watershed moment for the crypto industry. It builds on the success of Bitcoin ETFs, providing investors with a secure and regulated way to access Ether. This broader acceptance will fuel mainstream adoption and reflect a mature regulatory environment, paving the way for increased legitimization of the entire digital asset space,” said Sumit Gupta, co-founder of CoinDCX, to crypto. news in an earlier statement.

“Bitcoin rose from $42,000 to over $73,000 in the two weeks after the ETF began trading on January 11…Similarly, an Ether spot ETF ( ETH) could generate a [Ethereum] a rally of up to 60%,” he added.

However, some analysts believe ETH could face price pressure as the Grayscale Ethereum Trust (ETHE) could see $110 million in average daily outflows for weeks after its conversion and reduction.

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