- Ethereum enthusiasts are eagerly waiting for the SEC’s imminent decision on spot Ethereum ETFs.
- The ETF Trends President, Nate Geraci, recently expressed his strong belief regarding the approval timeline.
- Geraci indicated that he would be shocked if the spot ETFs are not approved within the next two weeks.
Anticipated SEC Decision on Ethereum ETFs Could Spark Significant Market Movement
Predictions on the Approval of Spot Ethereum ETFs
Nate Geraci, President of ETF Trends, has taken to social media to express his predictions surrounding the SEC’s decision on spot Ethereum Exchange-Traded Funds (ETFs). According to Geraci, the likelihood of these ETFs receiving approval in the upcoming weeks is very high. He specifically mentioned that the latter part of next week or the week of July 15th are strong possibilities for the approval announcement.
Potential Timeline for Approval
In an earlier statement made approximately five days ago, Geraci noted that ETF issuers would be updating their S-1 files based on the SEC’s feedback and submitting them by July 8th. Should there be no objections from the SEC to these updated files, the approval could potentially be granted within this week. However, in the event of any complications, it is expected that everything will be resolved by next week at the latest.
Impact on Ethereum Market Value
As the market awaits the SEC’s verdict, Ethereum has seen a significant decrease in value. Since the SEC’s acceptance of the 19b-4 forms, Ethereum has depreciated by 20%, causing concern among investors. According to CoinGecko, Ethereum has dropped by 3.5% over the last 24 hours and is currently trading at $2,930.
Conclusion
The upcoming SEC decision on spot Ethereum ETFs holds considerable importance for the crypto market. With experts like Nate Geraci expecting a positive outcome soon, investors are watching closely. A timely approval could be a catalyst for Ethereum’s price recovery, providing a potential turning point in the current market scenario.
