The price of Ether has topped $3,300 amid anticipation that spot ETH exchange-traded funds (ETFs) could launch as soon as the end of this week. <\/p>\n
Ether (ETH) is currently trading at $3,331 and has rallied 16% from a price of $2,909 in the last week, per TradingView data. <\/p>\n
Nate Geraci, ETF analyst and president of The ETF Store, took to X with his forecast that the roster of eight spot ETH ETFs will have launched by the end of this week. <\/p>\n
Welcome to spot ETH ETF approval week. Dont know anything specific, just cant come up [with] good reason for any further delay at this point, wrote Geraci in a July 14 X post. <\/p>\n
In line with Geraci, an anonymous source close to the proceedings told Cointelegraph on July 12 that the spot ETH funds were expected to launch by the end of this week. <\/p>\n
Several issuers including VanEck and 21Shares filed amended registrations last week in hopes of receiving the SECs final signoff to begin listing spot Ether ETFs. <\/p>\n
Many analysts tip the launch of the ETFs as a major catalyst for the price of ETH in the coming months. <\/p>\n
Related: Spot Bitcoin ETFs see highest flow day in over 5 weeks <\/p>\n
Tom Dunleavy, a managing partner at crypto investment firm MV Global, told Cointelegraph that he expects the funds toattract up to $10 billion in new inflows in the months following their launch, something that will see Ether prices surge to new all-time highs by the end of this year. <\/p>\n
Dunleavy also said, contrary to popular opinion among other ETF analysts, that Ether ETFs would be an easier sell to Wall Street compared to Bitcoin ETFs. <\/p>\n
We believe that there will be strong buy pressure with a much more clear narrative that traditional investors can understand. ETH has cashflows. It can be described as a tech stock, the app store of crypto, or an internet bond, Dunleavy wrote in a Q2 investor note given to Cointelegraph. <\/p>\n
He added that ETHs price action which has lagged relative to Bitcoin (BTC) for the last 18 months would rebound quickly following the launch of the funds. <\/p>\n
Magazine:Ethereums recent pullback could be a gift: Dynamo DeFi,X Hall of Flame <\/p>\n
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Ethereum tops $3.3K as analysts tip ETF approvals this week - Cointelegraph<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The price of Ether has topped $3,300 amid anticipation that spot ETH exchange-traded funds (ETFs) could launch as soon as the end of this week. Ether (ETH) is currently trading at $3,331 and has rallied 16% from a price of $2,909 in the last week, per TradingView data. Nate Geraci, ETF analyst and president of The ETF Store, took to X with his forecast that the roster of eight spot ETH ETFs will have launched by the end of this week Continue reading