On May 24, the U.S. SEC approved the 19b-4 forms submitted by multiple Ethereum spot ETF issuers, which almost confirmed that the Ethereum spot ETF is not far away. This form approval is only one of the two major steps that the SEC needs to take. Next, the issuer needs to submit the S-1 form and obtain approval before the Ethereum spot ETF can start trading.
Prediction: When will the Ethereum spot ETF start trading?
Bloomberg ETF analyst James Seyffart: In a few weeks
S-1 approval for the Ethereum spot ETF could be completed “within a few weeks,” but it “could take longer” as the process typically takes up to five months.
Bloomberg ETF analyst Eric Balchunas: Mid-June
It is expected that there will be only one round of comments from the SEC on the S-1 amendment, similar to when the SEC provides feedback to spot Bitcoin ETF applicants, a process that will take about two weeks, that is, until mid-June.
Galaxy Digital: July or August
The Galaxy Digital report (published before the approval) predicted that the spot Ethereum ETF could be listed and traded on exchanges in July or August.
Given that Bitcoin started to rise after the Bitcoin spot ETF was listed and hit an all-time high of around US$73,000, most analysts have determined that ETH will rise sharply next.
Prediction: How high can Ethereum spot ETF take ETH?
Su Zhu: If the Ethereum spot ETF is approved, Ethereum will rise to $5,400
Su Zhu posted on the X platform that the price of ETH has started to rise. He mentioned before that if the Ethereum spot ETF is really approved, then ETH will rise by 80% from US$3,000 to US$5,400, and BTC will rise to US$80,000 (the ETH/BTC exchange rate will reach 0.0675), which will also be a new high for the ETH price.
QCP Capital: If ETH ETF is approved, ETH may rise by 60%
“All eyes are on the ETH ETF deadline today. With implied volatility exceeding 100% on Friday, expect wild swings; BlackRock and five other issuers have submitted revised ETF filings to the SEC, and VanEck’s ETF ticker is listed on the DTCC website. We think the likelihood of approval is now very high, with trading expected to begin as early as next week. ETH ETF may be a done deal. If the BTC ETF approval is anything to go by, ETH could see a similar 60% price increase.”
Which coins have whales started hoarding?
According to monitoring, whale wallets on the Ethereum chain are hoarding Altcoin such as LDO, AAVE and UNI.
LINK
According to The Data Nerd, whale 0x225 withdrew about 74,000 LINK (about $1.23 million) from Kraken. In three days, he hoarded 210,000 LINK at an average price of $16.7 and 3,101 ETH at an average price of $3,692.
0x2A3C was created 2 hours ago and withdrew 65,541 LINK ($1.13 million) from Binance.
LDO
0xBD07 was created 5 days ago and withdrew 872,702 LDO ($2.02 million) from Binance.
0xe934 was created 4 days ago and withdrew 602,324 LDO ($1.4 million) from Binance.
0xf07B was created 3 hours ago and withdrew 914,961 LDO ($2.12 million) from Binance.
The new wallet “0x2872” withdrew 904,900 $LDO ($2.03 million) from Binance.
The new wallet “0xf07B” withdrew 914,961 $LDO ($2.05 million) from Binance.
The new wallet “0xccAD” withdrew 277,949 $LDO ($622K) from Binance.
AAVE
0xCD0a was created 5 days ago and withdrew 19,771 AAVE ($1.97 million) from Binance.
0x2019 was created 5 days ago and withdrew 19,991 AAVE ($2 million) from Binance.
ENS
0x43cA was created 4 days ago and withdrew 82,040 ENS ($1.98 million) from Binance.
UNI
0xBbDC was created 4 days ago and withdrew 214,465 UNI ($1.97 million) from Binance.
The new wallet 0xb2A20 withdrew 213,166 UNI ($1.96 million) from Binance.
