Their latest projection is also good news, considering that SEC Chair Gary Gensler had thrown the crypto community into a bit of limbo with his latest comment. While addressing the Senate Banking Committee on June 13, Gensler told Senator Bill Hagerty that the S-1 filings for the Spot Ethereum ETFs will likely be approved "over the course of this summer.” This statement raised the possibility of these funds not being approved until the end of the summer, which will be sometime in September. Spot ETFs To Propel ETH To $10,000 The Spot Ethereum ETFs are expected to have a huge impact on Ethereum’s price once they begin trading.
This time, Bloomberg analyst Eric Balchunas and fellow Bloomberg analyst James Seyffart have shared an update on when they expect these funds to begin trading. Spot Ethereum ETFs To Begin Trading By July 2 Balchunas stated in an X (formerly Twitter) post that they are moving their "over/under date” for the launch of the Spot Ethereum ETFs to July 2.
Crypto analyst Eljaboom also alluded to the Spot Ethereum ETFs when he stated that $10,000 is "programmed” for Ethereum in this cycle. Related Reading: Crypto Analyst Lists The Cardano Developments That Will Drive ADA Price To $3 In 2024 Crypto analyst CrediBULL Crypto stated that $10,000 is his minimum target for Ethereum in this bull run and added that the second-largest crypto token could even rise to $20,000 because it matches Bitcoin’s top in the 2017 bull run. Featured image created with Dall.
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