Ethereum

Foundation

With all eyes on a spot Ethereum ETF approval for listing and trading by the U.S. SEC, experts predict high odds of approval this month. Crypto financial services firm Matrixport believes the Securities and Exchange Commission might approve <a href="https://coingape.com/spot-ethereum-etf-s-1-amendments-due-on-monday-will-the-sec-approve-this-time/" target="_blank" rel="noopener">Ether ETF</a> by this week as the deadline for issuers to submit amended S-1 filings is Monday. 
<h2 id="ethereum-etf-approval-likely-this-week">Ethereum ETF Approval Likely This Week</h2> 
In a new update on July 8, Matrixport reported that the SEC will likely approve Ether ETF this week. The United States will have an exchange-traded fund tracking the spot price of Ethereum. 
Matrixport expects swift progress similar to May when the SEC suddenly asked spot Ethereum ETF issuers to revise their applications. After 19b-4 filings by issuers, the SEC instantly approved them in the next three days. The S-1 applications were probably delayed due to the July 4 holiday and the long weekend. 
&nbsp; 
CoinGape reported that the <a href="https://coingape.com/us-sec-delays-spot-ethereum-etf-launch-sends-back-s-1-forms/" target="_blank" rel="noopener">SEC delayed Ethereum ETF</a> launch with a few comments, pushing the S-1 deadline to July 8. ETFstore President <a href="https://coingape.com/etf-expert-predicts-2-weeks-listing-for-spot-ethereum-etf/" target="_blank" rel="noopener">Nate Geraci</a> said the last round of S-1 revisions was quite “light” and believes Ethereum ETFs will start trading in the next two weeks. 
BlackRock, Fidelity, Grayscale, Hashdex, VanEck, and Invesco are anticipated to submit S-1 filing to the U.S. Securities and Exchange Commission (SEC). 
Also Read: <a title="EtherFi Foundation Buys ETHFI, Passes Major Staking Proposal On Ethereum Mainnet" href="https://coingape.com/etherfi-foundation-buys-ethfi-passes-major-staking-proposal-on-ethereum-mainnet/" target="_blank" rel="bookmark noopener">EtherFi Foundation Buys ETHFI, Passes Major Staking Proposal On Ethereum Mainnet</a> 
<h2 id="eth-price-to-witness-massive-rally">ETH Price To Witness Massive Rally?</h2> 
Matrixport predicts a recovery in Ethereum price to $3,400 after the approval by SEC. The company forecasting a nearly 12% sharp jump based on analysis that ETH price rallied 20% after the SEC approved 19-b filings. 
<img decoding="async" class="aligncenter" src="https://pbs.twimg.com/media/GR8pcDJbIAAYETt?format=jpg&amp;name=large" alt="Image" width="766" height="431"> 
Whereas, $725 billion asset manager Bernstein earlier gave a long-term ETH price target of $6,600. The firm reported that ETH will reach this price after spot Ethereum ETFs approval by the SEC. Notably, the estimate is based on a 75% rally in Bitcoin products in January following weeks of ETFs approval. Bernstein analysts expect a similar price action for Ethereum. 
<a href="https://coingape.com/price/ethereum" target="_blank" rel="noopener">ETH price</a> rose 2% in the past 24 hours, with the price currently trading at $3,068. The 24-hour low and high are $2,826 and $3,090, respectively. Furthermore, the trading volume has increased further by 57% in the last 24 hours, indicating a rise in interest among traders. 
Also Read: <a href="https://coingape.com/xrp-whale-moves-tokens-as-lawyer-reveals-ripple-vs-sec-timeline/" target="_blank" rel="noopener">XRP Whale Moves 37M Tokens As Lawyer Reveals Ripple Vs SEC Timeline</a> 
The post <a href="https://coingape.com/matrixport-reveals-ethereum-etf-launch-timeline-bernstein-targets-eth-to-6600/">Matrixport Reveals Ethereum ETF Launch Timeline, Bernstein Targets ETH To $6,600</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Matrixport Reveals Ethereum ETF Launch Timeline, Bernstein Targets ETH To $6,600

목차

Coingape News Media

2024년 7월 8일에 게재된 다른 기사

Qubetics Whitelist Emerges as the Ticket to Prosperity Outperforming Chainlink and Internet Computer

Extraordinary Data Was Seen in Bitcoin Options! What Does It Mean for BTC?

Analysts Are Tipping This New Viral Altcoin As The Next Toncoin (TON); Set to Surpass AVAX and LE...

U2U Network, Chain Capital, and JDI Ventures Launch Groundbreaking DePIN Alliance to Revolutioniz...

Notcoin (NOT) Price Aims for New ATH Fueled By Network Development and Exponential User Growth

Top Altcoin Sensation 2024: BlockDAG’s X1 Miner App Rockets Past $56.6M Presale, Leaves Chainlink...

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!