Nate Geraci, President of The ETF Store, expects the Securities and Exchange Commission (SEC) to approve Ethereum ETFs this week. He is not alone; industry insiders share his optimism. This is bolstered by SEC Chair Gary Gensler's hint of a midsummer launch.
The crypto community is buzzing — Major voices such as Bloomberg's Eric Balchunas and Bitwise's Matt Hougan backing the prediction. According to reports, issuers have polished their paperwork to the SEC's satisfaction, indicating that they are ready to launch immediately if clearances are granted.
Ethereum's market performance reflects investor expectations, with ETH increasing in the last 24 hours. As ETH's value rises, analysts such as Tom Dunleavy of MV Capital believe that an ETF approval might unlock even greater gains. This is given to a big percentage of Ethereum being locked away.
While the ETF approval may cause ETH's price to skyrocket, many believe it is a step toward a more open crypto ETF market. This new approval might also pave the way for other altcoins such as Solana. The industry waits for the SEC to rule on two Solana ETF proposals, though a decision may not come quickly.
