Ethereum (ETH) Price Prediction as ETFs Prepare to Release
- PHPzOriginal
- 2024-07-10 15:39:46466browse
Investors are about to have even more options when choosing ETFs. The Bitcoin ETFs are already on the market, but when Ethereum ETFs release, they may not
Investors are set to gain even more choices when selecting ETFs. While the Bitcoin ETFs are already out on the market, the Ethereum ETFs might not have the same impact when they are released.
These new Ethereum ETFs are bound to make waves upon hitting the market, causing the Ethereum price to shoot up. We saw ETH’s rate climb when spot ether ETFs were approved recently by the US Securities and Exchange Commission. We may see similar action once some of those Ethereum ETFs release.
Already, eight companies have gained SEC approval to launch their ETFs. Among them are the Bitwise Ethereum ETF and Grayscale Ethereum Trust, to name a few. The ETFs will be listed on major exchanges including the Nasdaq, the New York Stock Exchange, and the Chicago Board Options Exchange.
Many of the funds are filing S-1 forms to gain approval from the regulator. While the approval process may take some time, perhaps even up to a few weeks, many of the exchanges are expecting to begin trading by mid-July.
Ethereum Price Expectation
Analysts do expect to see Ethereum benefit from the ETFs to be released. These ETFs will give investors exposure to Ethereum without some of the associated risks.
The expectation is that once they come onto the market, Ethereum could see as much as a 22% increase. That would place Ethereum’s price around $4,700, as it is currently $2,988 (ETH/USD). The coin has stayed flat recently, with just a 0.06% increase today from yesterday. The token is stabilizing after a lengthy fall that saw the coin move from $3,891 to $2,832.
Another crypto bear market may be in the cards, but investors are hoping that the upcoming release of the Ethereum ETFs will help salvage the situation.
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