Expectations are teeming high as industry experts unanimously predict the arrival of the most anticipated spot Ethereum ETF. In the latest development, industry observers say that the United States Securities and Exchange Commission (SEC) has concluded issuing the final approval of the Spot Ethereum ETF on July 23.
The new Chicago Board Options Exchange (CBOE) listing validated this new optimism while further exonerated by the ETF Store President. According to Nate Geraci, the ETF Store President, “CBOE’s new listing is almost ready.”
Geraci added that the official launch will include the unveiling of the participating spot Ethereum ETFs issuers, which include Franklin Templeton, VanEck, Invesco, and 21Shares. Their first trading day is slated for July 23, which was deliberately picked to reflect the official launch.
Invesco, Grayscale, BlackRock, Fidelity, Bitwise, and Franklin recently applied for the S-1 forms (as amended) for a participating role in the spot Ethereum ETF – hoping that it will be approved by next week. The latest filing is geared towards disclosing their management fees, proving their readiness to commence trading when approved.
Ethereum Drops By 1%, May Reach $10 Billion in 2024
Random industry analysis linked the growing urge to approve the Ethereum ETF to intense institutional demand. According to data from the Ethereum Exchange Reserve, the amount of Ethereum on different exchanges is at its all-time low.
A report by Kaiko mentioned a 1% drop in the Ethereum market, lowering its liquidity. It also noted that this declining liquidity could lead to an increased volatility in the price, causing the price of Ethereum to rise amid a rising demand. It was also speculated that there’s a possibility of Ethereum outperforming Bitcoin (BTC) in terms of percentage growth.
Tom Dunleavy, while commenting on the development, said he’s of the opinion that the inflows going into the Ethereum ETFs may reach $10 billion before the end of 2024. Dunleavy says he’s expecting a capital flow of not less than a billion monthly, which can send the price of Ethereum to a new all-time high by the Q4 (fourth quarter) of 2024.
Dogwifhat Stabilizes At $2.50 After a +70% Increase
Matt Hougan, the current Chief Investment Officer at Bitwise, has shared a similar opinion with Dunleavy. According to Hougan, shareholders at Ethereum need to be more intentional about selling their Bitcoin assets. He claimed that 28% of the total Ethereum supply has already been isolated.
Hougan commented on the rising withdrawal from different cryptocurrency exchanges into private cons wallets, describing it as a sign of a price increase in the future. In other news, the price of Dogwifhat (WIF) has started stabilizing at $2.50 after a gain of +70% was dictated from its initial low of $1.49.
The coin’s Trading Derivatives come with their own high risk, and investors are advised to trade only with what they can afford to lose. Traders are also warned that Trading Derivatives may not be favourable for every trader or investor and advised to make sure they fully comprehend the depth of the risk before going in.
Trump’s Election Outcome May Affect Dogwifhat Performance
Investors are also advised to seek professional guidance before getting involved. The outbreak of a bull run indicates a breakout in the price up to a level that is equal to the former height. The WIF’s four-hour chart shows an upside price target of about $2.95, representing more than 15% of its present price.
A trading chart published on the FX Empire platform shows that the WIF 50-4H Exponential Moving Average (MA) closed above 200-4H. The activities of the United States presidential aspirant, Donald Trump, are expected to play a role in growing the operations of the Dogwifhat.
A recent report shows that Donald Trump will be heading a fundraising ceremony on July 27 in Nashville during the biggest cryptocurrency conference in the United States. Among other speakers at the event will be Cathie Wood, CEO and Ark Invest Founder, Robert F Kennedy Jr., and Michael Saylor, the Founder of MicroStrategy.