Bloomberg is convinced: Ethereum spot ETF launching within weeks?

The SEC approved the ETH Spot ETF a few weeks ago. But when will it launch? Very soon, according to Bloomberg: Eric Balchunas, one of the analysts, predicts a July 2, 2024 launch, he wrote on Twitter.

The SEC already approved the so-called 19b-4 applications of eight companies on May 23. Thus, they have been formally approved. To be allowed to trade on U.S. stock exchanges, the authority must still approve the S-1 applications. SEC Chairman Gary Gensler has indicated that the launch will take place "sometime in the summer."

If we take the launch of the Bitcoin Spot ETF as an example, the price of Ethereum is likely to soar a few weeks after the launch.