Nate Geraci, president of ETF Store, anticipates that the approval of the spot Ethereum ETF will occur this week.




Analysts and industry leaders, including Matt Hougan from Bitwise Asset Management, share Geraci’s optimism. They believe that approval could spark significant interest and investment in Ethereum, potentially reshaping the cryptocurrency market and industry as a whole.

Industry experts anticipate the substantial impact of a potential spot Ethereum ETF

Nate Geraci has captured significant attention within the crypto community by predicting the approval of spot Ethereum ETFs this week. He shared his expectations on social media.


“Welcome to ETH spot ETF approval week… I’m calling it. I don’t have any specific information, just can’t find any valid reasons for further delays at this point. Issuers are ready to launch,” he wrote.

https://x.com/NateGeraci/status/1812593361267876057


Geraci’s prediction follows extensive discussions and legal filings related to the Ethereum ETF. During a recent appearance on CNBC’s ETF Edge, Geraci, along with Matt Hougan, discussed the likelihood and implications of the ETF approval.

As one of the potential issuers, Hougan highlighted the minimal amendments required in the latest filings. This suggests a closer approach to the approval finish line.

“These minimal amendments indicate that we are getting closer to the finish line. I think what you’ll hear this week or next makes sense to me. This is a very fast-moving process. Remember, just two months ago, no one thought we’d see these ETFs. Now it seems likely we will, and we’ll see what the reaction is,” Hougan commented.


Geraci also emphasized the growing interest in cryptocurrency assets among institutional investors and financial advisors. He noted that despite current market conditions, the demand for Ethereum might mirror the significant success seen with Bitcoin ETFs.

“The spot Bitcoin ETF was the most successful ETF launch in industry history when you consider the cumulative impact of the 10 or 11 ETFs that came to market. I think a spot Ethereum ETF could be the second most successful launch ever,” Geraci stated.

Additionally, market analysts believe that ETH could experience positive price movement following the launch of a spot Ethereum ETF. Cryptocurrency trader Daan Crypto suggested that approval could foster a bullish sentiment.


“ETH has been performing well so far, approaching the $3,350 mark. We expect the approval of the S-1 this week, with ETFs starting to trade shortly after,” he noted.

https://x.com/DaanCrypto/status/1812487463501508983

Michaël van de Poppe, founder of the crypto consultancy firm MN Trading, agreed with this perspective. He highlighted Ethereum’s recent performance and its superior speed compared to Bitcoin. Van de Poppe believes that an Ethereum ETF could further boost its market dominance.

“The upcoming Ethereum ETF could propel prices even further, making a potential bearish divergence on the weekly timeframe almost inevitable,” he explained.

Furthermore, industry experts believe that a spot Ethereum ETF will pave the way for other crypto ETFs. The Chicago Board Options Exchange (CBOE) has filed 19b-4 forms to trade spot Solana ETFs for two issuers, VanEck and 21Shares. However, the U.S. Securities and Exchange Commission (SEC) has until 2025 to respond to this request.