Spot Ethereum ETFs Likely To Launch On July 23, Bloomberg Analyst Say

Highlight

• Spot Ethereum ETFs are scheduled to begin trading on July 23, aligning with major Bitcoin Conference, as reported by Bloomberg Senior ETF Analyst Eric Balchunas said in a post on X.
• SEC could give green light toEthereum ETFs next week, post final S-1 submission.
• SEC’s iterative 19b-4 form revisions indicate nearing approval for Ethereum ETFs.

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Bloomberg Analyst Announces Spot Ethereum ETF Launch Date

On July 16, Bloomberg ETF analyst Eric Balchunas shared on X that the starting date for spot Ethereum exchange-traded fund (ETF) trading in the US is July 23^rd. Eric Balchunas indicated that the issuers have been requested to file their final S-1 registration statements, including associated fees, by Wednesday, July 17^th, with a request for effectiveness for the following Monday.

Update: Nate’s instincts were right, hearing SEC finally gotten back to issuers today, asking them to return FINAL S-1s on Wed (incl fees) and then request effectiveness on Monday after close for a TUESDAY 7/23 LAUNCH. This is provided no unforeseeable last min issues of course! https://t.co/D21FD9Qf94

— Eric Balchunas (@EricBalchunas) July 15, 2024

The Ethereum ETF issuers filed their S-1 forms on July 8th but most of them left the fees out of their forms. According to Balchunas, this is likely a strategy from the asset managers to check how competitive the funds’ fees are, especially BlackRock’s.

Notably, the S-1 form is an initial registration required by the US Securities and Exchange Commission (SEC) before a security can be publicly traded.

Concurrently, this preparation is in line with a possible launch on Tuesday, July 23, during significant cryptocurrency events such as The Bitcoin Conference in Nashville which Donald Trump is expected to attend. This timing is sensible because the launch is strategic and attempting to coincide with increased consumer focus.

Despite some earlier setbacks, the market is still hopeful for the upcoming decision, primarily because of the positive political changes and the growing institutional interest in cryptocurrencies.

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Impact of Spot Ethereum ETF Launch

All eyes are on the launch of the spot Ethereum ETFs, which analysts say could happen sooner rather than later. The approval of a spot Ethereum ETF is widely predicted to have a major impact on the Ethereum market and the broader crypto industry. It could drive remarkable inflows of institutional and retail capital into Ethereum, potentially mirroring the success of spot Bitcoin ETFs.

Notably, according to a new Kaiko report, Ether could outperform Bitcoin following the launch of the highly anticipated Ethereum exchange-traded funds (ETFs) in the United States.

The ongoing interest from financial advisors and institutional investors shows the high demand for regulated crypto investment products. It is predicted that these ETFs could attract between 0. 75% and 1% of Ethereum’s circulating supply in new investments within the first five months of its operations, stressing the possibility of great market expansion.

Institutional investor Tom Dunleavy recently said that he believes the Ethereum ETFs will see $10 billion in inflows at a rate of roughly $1 billion per month.

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Ethereum (ETH) Price

Following the announcement, Ethereum swiftly made reaction to this news, jumping by more than 6% according to the price at the time of writing this article to stand at $3,479.62. Notably, The hype around spot Ethereum ETFs is clearly reflected in the crypto asset’s market performance with ETH’s price increasing by 15% over the last week, and 80% in the past year as of CoinGecko. Obviously, this has been largely results from increased expectation that these ETFs will be approved soon and once approved, they are expected to mobilize a lot of funds.

The following sets forth the ETH to USD Chart

Ethereum Chart

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Where & How To Buy Ethereum (ETH)?

BTCC offers Ethereum (ETH) Perpetual Futures with leverage up to 500×, you can trade Ethereum (ETH) Perpetual Futures Contract on BTCC at the most competitive price and highest security.

The following sets forth the guidance for trading Ethereum (ETH) Perpetual Futures Contract on cryptocurrency exchange BTCC:

Step One: go to the BTCC homepage and log in to your BTCC account. If you do not have an account, you need to register first.

Step Two: on the BTCC official homepage, choose “Deposite” > “Fiat Deposit”, and then fund your account.

Step Three: go back to the BTCC official homepage, choose “Futures” -“USDT-M Perpetual Futures Contract”, and find the Ethereum (ETH) trading pair.

You can also click the button below to directly enter the Ethereum (ETH) trading page⇓

Step Four: choose the contract trading order type. BTCC contract orders are divided into market orders, limit orders and SL/TP orders.

• Market Order: users place orders at the best price in the current market to achieve fast trading.
• Limit Order: Limit orders are a type of order to buy or sell futures at a price more favourable than the market price. When you buy at a price lower than the market price or sell at a price higher than the market price, the order will be in the form of a limit order.
• SL/TP Order: SL/TP orders are a type of order to buy or sell futures at a price less favourable than the market price. When you buy at a price higher than the market price or sell at a price lower than the market price, the order will be in the form of a SL/TP order.

Step Five: adjust the leverage multiple.

Please keep in mind that operating leverage carries the risk of liquidation. Leverage should be adjusted based on your financial status and risk tolerance.

Step Six: choose the lot size and set the SL/TP price .

Step Seven: after setting the basic data information, users can choose to buy (open long) or sell (open short) after entering their ideal price. Traders should remind that the price cannot be higher or lower than the highest buying price or lowest selling price of the platform.

Step Eight: click the buy or sell button, and the Ethereum (ETH) futures contract order is completed.

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