Ethereum

Bitcoin ETF

Spot

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-price-surges-above-3300-as-etf-launch-anticipation-grows/" data-wpel-link="internal">Ethereum Price Surges Above $3,300 as ETF Launch Anticipation Grows</a> 
Developments in the <a href="https://en.coin-turk.com/top-on-chain-detective-zachxbt-faces-defamation-suit-calls-for-crypto-community-support/" data-wpel-link="internal">cryptocurrency market</a> continue to attract attention. Accordingly, with the expectation that Spot Ethereum exchange-traded funds will be launched by the end of this week, Ethereum’s price rose above $3,300. Ethereum is currently trading at $3,331 and has increased by 16% from $2,909 last week, according to TradingView data. 
<h2 class="p1" style="text-align: justify" id="what-s-happening-on-the-ethereum-front">What’s Happening on the Ethereum Front?</h2> 
ETF analyst and The ETF Store president Nate Geraci predicted on X that eight spot Ethereum ETF listings would open by the end of this week and shared the following on July 14: 
<blockquote> 
 “Welcome to Ethereum ETF approval week. I don’t know anything specific, but at this point, I can’t find a good reason for further delay.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-370591" src="https://coin-turk.com/wp-content/uploads/2024/07/nate.webp" alt="" width="500" height="225"> 
According to Geraci, an anonymous source close to the hearings said on July 12 that spot Ethereum funds are expected to be launched by the end of this week. Many issuers, including VanEck and 21Shares, submitted amended registration applications last week hoping to receive final approval from the SEC to start listing spot Ethereum ETF funds. Many analysts suggest that the launch of ETFs will be a significant factor for Ethereum’s price in the coming months. 
<h2 class="p1" style="text-align: justify" id="notable-statement-from-a-famous-figure">Notable Statement from a Famous Figure</h2> 
Tom Dunleavy, managing partner of the crypto investment firm MV Global, stated that he expects the funds to attract up to $10 billion in new inflows in the months following their launch and predicted that this would push Ethereum prices to all-time highs. The executive also said, contrary to the popular view among other ETF analysts, that Ethereum ETF funds would be an easier sell for Wall Street compared to Bitcoin ETF funds: 
<blockquote> 
 “We believe there will be strong buying pressure with a much clearer narrative that traditional investors can understand. Ethereum has cash flow.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-370593" src="https://coin-turk.com/wp-content/uploads/2024/07/sassal.webp" alt="" width="500" height="95"> 
Dunleavy continued by saying that ETF funds could be described as a <a href="https://finance.coin-turk.com/" data-wpel-link="exclude"></a><a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">technology</a> stock, a crypto app store, or an internet bond: 
<blockquote> 
 “This is a much easier sell for financial advisors than digital gold.” 
</blockquote> 
The famous figure also added that Ethereum’s price movement, which has lagged behind Bitcoin over the past 18 months, would quickly recover following the launch of the funds. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-price-surges-above-3300-as-etf-launch-anticipation-grows/" data-wpel-link="internal">Ethereum Price Surges Above $3,300 as ETF Launch Anticipation Grows</a></h5>

Ethereum Price Surges Above $3,300 as ETF Launch Anticipation Grows

Innholdsfortegnelse

COINTURK NEWS

Andre artikler publisert på 15. juli 2024

Europe Conquering the Crypto Market: $100 Trillion at Stake!

Breaking Down MoonBag’s Top Crypto Presale Success: $3.4M Secured as Sei and Notcoin’s Efforts Pa...

Ethereum (ETH) Surges Back as Clandeno (CLD) ICO Attracts Massive Attention Amid Dogecoin (DOGE) ...

Tokens To Watch: $175M Surge in Supply Spells Price Pressure for ARB, WLD, STRK

What Are Actively Validated Services (AVS) in Blockchain?

ICP Urges Nigerian Youth to Embrace Blockchain Technology

Bli med på vårt gratis nyhetsbrev for daglige kryptooppdateringer!