The Crucial Week Begins for Ethereum (ETH): Will SEC Approval Boost the Price? Matrixport Provides Insight!
Matrixport has stated that if the SEC approves the S-1 filings during the week of July 8, the price of Ethereum could experience another increase.
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By Elif Azra Güven
Updated 08.07.2024 – 15:02
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While spot Ethereum ETFs are overshadowed by declines, ETF analysts are highlighting the significance of July 8 and July 15 in relation to the process.
It is anticipated that the SEC will grant the S-1 approval necessary for ETFs to commence trading on July 15. However, Matrixport suggests that the price of ETH may rise again prior to the S-1 approval.
Matrixport, a digital asset financial services platform, has stated that if the SEC approves the S-1 filings during the week of July 8, the price of ETH could experience another increase.
“On May 23, the SEC approved ETF issuers’ 19b-4 filings, but S-1 filings are still pending. Since then, ETH has increased by 20%. Due to the July 4th holiday and the long weekend, the SEC may have postponed the filing until the week of July 8th (today). If the SEC takes action this week, ETH prices may rebound.”
#Matrixport
Today-Jul 8: SEC Will Likely Approve
#ETH
ETF This Week
#CryptoFinance
#cryptocurrency
#Crypto
#SEC
pic.twitter.com/83WVrVjrOZ
— Matrixport Official English (@Matrixport_EN)
July 8, 2024
Experts are focusing on the date of July 15!
Nate Geraci, the president of The ETF Store, believes that the SEC will complete all necessary processes for spot Ethereum ETF trading this week.
Geraci, who believes that ETH ETFs are most likely to be launched on July 15 or during the week of July 15 at the latest, claims that issuer companies must submit revised S-1 applications on July 8, and the final S-1 approval date may be July 12.
Against these dates, Geraci suggests that July 15 is the most probable day for spot Ethereum ETFs to begin trading.
Related News
A Prominent ETF Analyst Reveals the Date When the SEC Will Announce its Decision on the Spot Ethereum ETF!
In addition to Geraci, Bloomberg ETF analyst James Seyffart also predicts that ETH ETFs will be approved on July 15.
*This is not investment advice.
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