Ether has surged past $3,300 amidst expectations of spot ETH exchange-traded funds (ETFs) potentially launching by week’s end. Trading at $3,331, Ether has climbed 16% from $2,909 over the past week, according to TradingView data.
Nate Geraci, ETF analyst and president of The ETF Store, expressed optimism on X about the imminent launch of eight spot ETH ETFs by the end of this week.
“Welcome to spot ETH ETF approval week. Don’t know anything specific, just can’t come up with a good reason for any further delay at this point,” Geraci wrote in a July 14 X post.
According to a source familiar with the matter who spoke to Cointelegraph on July 12, it was reported that spot ETH funds are anticipated to debut by the week’s end. Following amended registrations filed last week by issuers like VanEck and 21Shares, they await final approval from the SEC to list spot Ether ETFs. Analysts widely anticipate these ETF launches to significantly impact ETH’s price in the upcoming months.
Tom Dunleavy, managing partner at crypto investment firm MV Global, expressed to Cointelegraph his anticipation of the funds drawing up to $10 billion in new inflows in the months post-launch. He believes this influx will drive Ether prices to new all-time highs by year-end. Contrary to prevailing views among ETF analysts, Dunleavy contends that Ether ETFs will find greater acceptance on Wall Street compared to Bitcoin ETFs, describing them as an “easier sell.”
In a Q2 investor note reviewed by Cointelegraph, Tom Dunleavy outlined his perspective: “We anticipate strong buy pressure driven by a clearer narrative understandable to traditional investors. ETH generates cashflows and can be likened to a tech stock, the app store of crypto, or an internet bond.” Dunleavy emphasized that this narrative would resonate more with financial advisors compared to the “digital gold” narrative associated with Bitcoin. He also predicted a swift rebound in ETH’s price, which has trailed Bitcoin’s over the past 18 months, following the launch of these funds.
