Ethereum ETFs are here: Experts predict possible price swings

ethereum spot exchange-traded funds (ETFs) will begin trading on July 23, as predicted by Bloomberg ETF analysts James Seyffart and Eric Balchunas. reported According to crypto Briefing, most asset managers have filed their S-1 forms, except for Proshares. As the potential launch day approaches, experts shared their expectations for the ethereum (eth) price, painting a divided picture.

Eneko Knörr, CEO of Stabolut, highlighted the price movement of bitcoin (btc) ahead of the spot ETF approval as btc jumped from $26,000 to $46,000.

“This surge was driven by a combination of the ‘halving effect’ and anticipation surrounding the ETF approval. Following the approval, btc experienced a 15% drop in a matter of days to then hit an ATH in March 2024 of $72,000,” Knörr explained.

Therefore, the market is most likely to witness a similar movement in eth prices. Ever since the initial rumors about the ETF approval started solidifying, there has been a noticeable bullish sentiment in the market. “We can expect eth prices to continue to rise in the coming days and weeks.”

However, Stabolut’s CEO does not rule out a “news sell” event, which will trigger a short correction. However, the correction could be accompanied by a new surge as new capital flows into the ethereum market. “Overall, my outlook on ethereum’s potential is quite optimistic.”

On the other hand, Ruslan Lienka, Head of Markets at YouHodler, does not foresee a price correction caused by a “news selling event.” He explained that the “rumor buying” phase has not fully played out as it happened with the bitcoin ETF.