The price of Ether has topped $3,300 amid anticipation that spot ETH exchange-traded funds (ETFs) could launch as soon as the end of this week.&nbsp;
Ether (<a href="https://cointelegraph.com/ethereum-price">ETH</a>) is currently trading at $3,331 and has rallied 16% from a price of $2,909 in the last week, per TradingView <a href="https://www.tradingview.com/symbols/ETHUSD/?exchange=COINBASE" target="_blank" rel="noopener nofollow">data</a>. 
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-07/e332c19b-8dbf-40a9-9320-54bfceecebdb.png" alt="Ethereum tops $3.3K as analysts tip ETF approvals this week" title="">
 <figcaption style="text-align: center;">
 ETH is up 13.7% in the last week, ahead of a widely anticipated ETF launch. Source: TradingView.
 </figcaption>
</figure>
Nate Geraci, ETF analyst and president of The ETF Store, took to X with his forecast that the roster of eight spot ETH ETFs will have launched by the end of this week. 
“Welcome to spot ETH ETF approval week. Don’t know anything specific, just can’t come up [with] good reason for any further delay at this point,” wrote Geraci in a July 14 X <a href="https://x.com/NateGeraci/status/1812593361267876057" target="_blank" rel="noopener nofollow">post</a>. 
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-07/935f8f34-9099-486f-8b3a-8b699b3fc2e3.png" alt="Ethereum tops $3.3K as analysts tip ETF approvals this week" title="">
 <figcaption style="text-align: center;">
 Source: <a href="https://x.com/NateGeraci/status/1812593361267876057" target="_blank" rel="noopener nofollow">Nate Geraci</a>
 </figcaption>
</figure>
In line with Geraci, an anonymous source close to the proceedings told Cointelegraph on July 12 that the spot ETH funds <a href="https://cointelegraph.com/news/final-signoff-spot-ether-etfs-expected-imminently-listings-next-week-source">were expected to launch</a> by the end of this week. 
Several issuers — including VanEck and 21Shares — <a href="https://cointelegraph.com/news/vaneck-21shares-ether-etf-sec-approval-launch">filed amended registrations</a> last week in hopes of receiving the SEC’s final signoff to begin listing spot Ether ETFs.
Many analysts tip the launch of the ETFs as a major catalyst for the price of ETH in the coming months. 
Related: <a href="https://cointelegraph.com/news/spot-bitcoin-etfs-see-highest-flow-day-in-over-5-weeks">Spot Bitcoin ETFs see highest flow day in over 5 weeks</a>
Tom Dunleavy, a managing partner at crypto investment firm MV Global, told Cointelegraph that he expects the funds to&nbsp;<a href="https://cointelegraph.com/news/ethereum-etf-inflows-10-billion-eth-new-highs-analyst">attract up to $10 billion in new inflows</a> in the months following their launch, something that will see Ether prices surge to new all-time highs by the end of this year.
Dunleavy also said, contrary to popular opinion among other ETF analysts, that Ether ETFs would be an “easier sell” to Wall Street compared to Bitcoin ETFs.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-07/1150cd85-dee8-42e6-80f5-5447e4047e4d.png" alt="Ethereum tops $3.3K as analysts tip ETF approvals this week" title="">
 <figcaption style="text-align: center;">
 Source: <a href="https://x.com/sassal0x/status/1812636939495076103" target="_blank" rel="noopener nofollow">Anthony Sassano</a>
 </figcaption>
</figure>
“We believe that there will be strong buy pressure with a much more clear narrative that traditional investors can understand. ETH has cashflows. It can be described as a tech stock, the app store of crypto, or an internet bond,” Dunleavy wrote in a Q2 investor note given to Cointelegraph.
<blockquote data-ct-non-breakable="true">
 “This is a much easier sell for financial advisors than ‘digital gold.’”
</blockquote>
He added that ETH’s price action — which has lagged relative to Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) for the last 18 months — would rebound quickly following the launch of the funds. 
Magazine:&nbsp;<a href="https://cointelegraph.com/magazine/spot-ethereum-etf-ether-price-bitcoin-patrick-scott-dynamo-defi-hall-of-flame/">Ethereum’s recent pullback could be a gift: Dynamo DeFi,&nbsp;X Hall of Flame</a>

Ethereum tops $3.3K as analysts tip ETF approvals this week

Cointelegraph

Các bài viết khác được xuất bản trên 15 thg 7, 2024

Ethereum Pectra Upgrade: Key EIPs and Implications for Validators– Part II

Trump Assassination Attempt Sparks Memecoin Market Surge

Crypto Tokens with Unmatched Potential in 2024:

What Are Actively Validated Services (AVS) in Blockchain?

Bitcoin, Ethereum, Dogecoin Recover As Market Reacts Positively To Trump Escaping Assassination A...

VeChain (VET) Surges 18%; Breaking Key Resistance

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!