Ethereum

Spot

Matrixport, a company that invests in digital assets, is confident that the United States Securities and Exchange Commission (SEC) will approve trading of Spot Ethereum ETF trading this week.
Matrixport anticipates that the S-1 approval process will move quickly, similar to the 19b-4 approval procedure previously seen with the SEC. The company mentioned that the delay in the S-1 applications was likely due to the holiday at the start of the month and the extended week.
<h2 id="b-matrixport-and-bernstein-predict-eth-price-to-surge-b">Matrixport and Bernstein Predict ETH Price to Surge</h2>
Notably, the authorization of the listing and trading of a physical spot Ethereum ETF will attract a large amount of investment into Ethereum, thus increasing its value. Bernstein predicts that the price of ETH could hit $6,600. This surge would signify a rise from its current value, reflecting investors’ high confidence in Ethereum’s future and its ecosystem.
Recall that <a href="https://thecoinrise.com/bernstein-predicts-huge-growth-on-spot-crypto-etfs-algotech-algt-presale-offers-excellent-chances-for-profits/" rel="noopener noreferrer nofollow">Bernstein forecasted a notable increase in the growth of spot crypto ETFs</a>. The analyst predicted in May that the expansion of crypto ETFs could reach up to $450 billion. Following his prediction, Ethereum experienced a 1.72% increase in its price.&nbsp;
Meanwhile, Ethereum is trading at $2,981.15, a 0.02% decrease in the past 24 hours, according to <a href="https://coinmarketcap.com/currencies/ethereum/" rel="noopener noreferrer nofollow">CoinMarketCap’s data</a>. The 24-hour low and high are $2,826 and $3,090, respectively. Also, its trading volume increased by 57% in the last 24 hours, indicating high interest among traders.
<h2 id="b-qcp-capital-projects-huge-surge-for-ethereum-b">QCP Capital Projects Huge Surge for Ethereum</h2>
In May, QCP Capital, a leading cryptocurrency trading firm, projected the <a href="https://thecoinrise.com/qcp-capital-projects-huge-surge-for-ethereum-post-etf-approval/" rel="noopener noreferrer nofollow">price of Ether could increase by 60% post-ETF approval</a>, reaching approximately $6,000. QCP Capital’s forecast is rooted in the belief that spot Ethereum ETF products would provide a substantial new demand driver.
According to analysts from K33 research, Vetle Lunde and David Zimmerman described the upcoming Ether ETFs as a “golden egg” for ETH, contrasting the anticipated boost with the selling pressure Bitcoin will face.
Over the past year, ETH has underperformed compared to Bitcoin, which has seen market-leading gains supported by over $14 billion in flows into Bitcoin exchange-traded products. Despite this, analysts believe that the influx of investments into the new<a href="https://thecoinrise.com/ether-to-outperform-bitcoin-post-eth-etf-approval/" rel="noopener noreferrer nofollow"> Ether ETFs will eventually bolster ETH’s price</a>, similar to what occurred with Bitcoin ETFs.
<h2 id="b-approval-of-spot-ethereum-etf-b">Approval of Spot Ethereum ETF</h2>
This development follows the Securities and Exchange Commission’s approval on May 23 of <a href="https://thecoinrise.com/sec-greenlights-spot-ether-etfs-in-landmark-decision/" rel="noopener noreferrer nofollow">19b-4 filings from eight asset management firms</a> that applied to list and trade spot Ethereum ETFs on U.S. exchanges for the first time. Undoubtedly, these approvals marked a milestone in the crypto investment landscape, paving the way for more mainstream acceptance of digital assets.
However, final approval requires the SEC to sign off on S-1 registration <a href="https://thecoinrise.com/21shares-updates-etf-etf-application-ends-partnership-with-ark-invest/" rel="noopener noreferrer nofollow">statements for the spot Ether ETFs</a> before they can officially begin trading. According to some experts, this process could take months but is expected to conclude sometime this month. Recall that at the end of last month, the SEC returned the S-1 forms to prospective Ethereum ETF issuers, <a href="https://thecoinrise.com/sec-requests-revisions-from-ethereum-etf-issuers-final-approval-still-pending/" rel="noopener noreferrer nofollow">marking another round of revisions</a> before these ETFs could go live.&nbsp;
The post <a href="https://thecoinrise.com/matrixport-expects-us-sec-approval-for-spot-ethereum-etf-soon/" rel="noopener noreferrer nofollow">Matrixport Expects US SEC Approval for Spot Ethereum ETFs Soon</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Matrixport Expects US SEC Approval for Spot Ethereum ETFs Soon

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