Ethereum Spot ETF Launch Imminent Amid Market Volatility
The spot Ethereum ETF is expected to launch within two weeks, potentially during the week of July 15, as ETH prices have fallen over 20% since late May.
In late May, the U.S. SEC approved the proposed Ethereum spot ETF applications. Now, issuers are awaiting final regulatory approval to begin trading on stock exchanges.
On 7 July 2024, Nate Geraci, the president of The ETF Store, expressed surprise if the spot Ethereum ETF isn’t listed and not started trading within the next two weeks.
He said that the highly anticipated ETH spot ETF applications might debut as early as next week, though a launch during the week of July 15 seems more probable.
This statement comes as ETH prices have dropped over 20% since the unexpected approval of the 19b-4 form in late May. The market is keenly watching for the ETF’s impact on Ethereum’s trajectory.
The 15 July date is only a part of the prediction by the ETF store president on behalf of multiple factors.
Nate noted that most ETH spot ETF issuers, except Bitwise, still need to submit amendments by Monday. Following this, the “final” S-1 filings must be submitted by Wednesday, as issuers likely aim to avoid a Friday launch. This timeline makes a launch during the week of July 15 most probable.
Ethereum price action
The current trade price of Ethereum (ETH) is $2,891 & this price is 5.3% down over the last 24 hours. In the last 6 hours the trade price of ETH coin plummeted drastically because of war news.
Reportedly, the Russian military has destroyed a train carrying new tanks sent by the West in the Kharkiv region using an Iskander missile. This news about the war effort is trending across social media, with Russia receiving support and NATO facing criticism.
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