Financial reports from institutions like Fidelity, VanEck, Franklin, 21Shares, Grayscale, and BlackRock

Ethereum ETFs Set for Imminent Launch by July 15 with $5 Billion Inflows Expected

Jul 8, 2024, 06:26 PM

The cryptocurrency market is abuzz with anticipation as multiple financial institutions, including Fidelity, VanEck, Franklin, 21Shares, Grayscale, and BlackRock, have filed updated S-1 forms for spot Ethereum ETFs. Analysts expect these ETFs to launch imminently, potentially within the next two weeks. Nate Geraci, president of The ETF Store, projects the week of July 15 as the probable listing time. The launch is predicted to attract significant inflows, with estimates suggesting up to $5 billion in initial investments, around 30% of the Bitcoin ETF's initial inflows. This development is seen as a major catalyst for Ethereum, which is currently trading around $3,000. The approval of these ETFs by the SEC is expected to democratize Ethereum investments and could lead to a bullish trend in the crypto market, similar to the surge seen with Bitcoin ETFs.