Ethereum ETFs to be approved in July

Following the approval of Bitcoin Spot exchange traded funds [ETFs] In the United States, the community is eagerly awaiting the arrival of Ethereum ETFs. Like Bitcoin, Ethereum has faced its own set of obstacles. But things seem to be falling into place with the approval of ETFs by the Securities and Exchange Commission [SEC] It could take weeks.

According to Steve Kurz, head of asset management at Galaxy Digital Ether ETFs, the green light is expected in July. He believes that the ETFs are currently in the “showcase” phase. added,

“Look, we’ve done this before. It’s methodical, it’s smoke and mirrors, and the SEC is involved. We’ve been doing it for months now, we did it with the Bitcoin ETF, the products are pretty similar — we know the plumbing, we know the process.”

Currently, a total of eight companies are awaiting approval for Ethereum ETFs. These are BlackRock, Franklin Templeton, VanEck, Fidelity, iShares, Galaxy Digital, Grayscale, and 21Shares. These companies have already received approval to list their shares on the stock exchange. But before their shares can be traded, they must obtain approval to file their S-1 filing.

Also read: Cryptocurrency: 3 ETH cryptocurrencies to hold before the Ethereum ETF boom

Can this approval boost Ethereum price in July?

At press time, ETH was trading at $3,349.33 after a daily decline of 2.58%. ChangellyETH will reach a high of $3,555.49. The average price of the altcoin will remain around $3,510. Ethereum could especially see a bigger surge given the current hype around spot ETFs.Source

In addition, a K33 research analysis revealed Ether ETFs would be a “golden egg” for altcoin prices. Ethereum could even beat Bitcoin in the first few weeks after its launch.

Also read: Ethereum ETF: $5 billion in net inflows expected in first 6 months

Source