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What will be the price of Ethereum on July 31, 2024?
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Story
Ethereum Spot ETFs Expected to Launch by July 15 Amid Anticipation of $500M Inflows
Jul 8, 2024, 09:43 AM
The launch of Ethereum spot ETFs appears imminent, with multiple analysts and experts predicting approval and trading to begin within the next two weeks. Nate Geraci, president of The ETF Store, expressed confidence that the ETFs would be listed and traded by mid-July. Analysts expect significant inflows, with predictions ranging from $500 million in the first week to 30% of the initial $5 billion net inflows seen by Bitcoin ETFs. The SEC is expected to approve the ETFs soon, possibly this week or next. Despite the anticipation, Ethereum's price has declined by over 20% since late May, though it recently surpassed $3,000 in European trading. The launch is seen as a major catalyst for Ethereum and the broader cryptocurrency market, with expectations of increased institutional access and potential price movements. BlackRock is among the entities involved, and there are forecasts of Ethereum reaching $6,500 by year-end.
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