The eagerly awaited launch of spot Ethereum ETFs is projected for July 2nd, according to Bloomberg ETF analyst Eric Balchunas. The SEC has reportedly requested responses from ETF issuers within a week to light comments on their S-1 filings, indicating a strong likelihood that the ETFs will be declared effective soon after, allowing them to start trading before the holiday weekend.

The SEC has already approved 19b-4 forms for eight Ethereum ETF issuers, including BlackRock, Fidelity, and VanEck, but must approve the S-1 forms for the ETFs to officially begin trading. SEC Chair Gary Gensler recently suggested that the S-1 for an Ethereum ETF might be approved this summer during his testimony at a Senate Appropriations Committee hearing.

Asset manager VanEck predicts Ethereum (ETH) could reach $22,000 by 2030, driven by an estimated $66 billion in "free cash flows." The launch of spot Ethereum ETFs is expected to attract significant institutional capital, with estimates of $15 to $45 billion in inflows within the first year, according to Standard Chartered's Geoff Kendrick. Singapore-based crypto trading firm QCP Capital forecasts a potential 60% rally in ETH prices following the approval, similar to the market response after the approval of spot Bitcoin ETFs in January.