ETHEREUM ETFS TO LAUNCH NEXT TUESDAY. HERE’S WHY ETH'S PRICE COULD BE SET TO EXPLODE
- SEC preparing Ethereum ETFs to launch next week Tuesday after asking issuers to return final S-1s, says Bloomberg analyst.
- Ethereum investment products raked in $72 million in inflows, its highest level since March.
- Ethereum could set a new yearly high in the coming weeks after ETH ETF approval.
Ethereum is up nearly 7% on Monday following updates from Bloomberg analysts that the Securities & Exchange Commission (SEC) would potentially greenlight spot ETH ETFs to launch next week Tuesday. The increased inflows across global Ethereum investment products also align with the new development, as traditional investors seem to be preparing for a potential rally ahead of the launch.
Daily digest market movers: Why ETH ETFs could perform well
In an X post on Monday, Bloomberg analyst Eric Balchunas said that the SEC plans to launch Ethereum ETFs on July 23 (next Tuesday) after responding to issuers today. Balchunas highlighted that the SEC asked issuers to submit their final S-1s with fees included on Wednesday before the launch can take place.
This may be highly bullish for the entire crypto market, considering the Bitcoin conference will be taking place next week, and US presidential candidate Donald Trump is listed among the speakers
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