The highly anticipated U.S. Spot Ethereum ETF is set to launch in the coming weeks, potentially as early as July 2nd. However, according to Markus Thielen, CEO of 10X Research, the Ethereum ETF is expected to attract only a fraction of the investment seen in U.S. Spot Bitcoin ETFs.

Thielen's analysis suggests that the Ethereum ETF will likely capture around 15-20% of the influx that Bitcoin ETFs have experienced, which amounts to approximately $2.8 billion. This estimate is based on the pattern observed with the launch of Bitcoin ETFs, where VanEck's Bitcoin ETF quickly accumulated $600 million in assets under management (AUM) after its launch.

The Ethereum price has seen a modest 1% increase today, reflecting the growing anticipation surrounding the potential Ether ETF launch. Thielen also noted that the market might already be positioning itself for the launch, as evidenced by the similar growth in Ethereum perpetual futures open interest since May 20.

SEC Chairman Gary Gensler has indicated that the approval process for the Spot Ethereum ETF is progressing smoothly, although his remarks were non-committal. Bloomberg analyst Eric Balchunas has adjusted the potential approval date for the Spot Ethereum ETF to July 2, taking into account the ongoing regulatory processes.

Despite the optimism surrounding the Ethereum ETF launch, the actual trading commencement is still subject to issuers amending their S-1 registration statements and securing final approval from the SEC. As of writing, Ethereum's trading volume has slipped 44% to $12.06 billion from yesterday, while its price touched a high of $3,424.58.

The insights provided by Markus Thielen offer valuable perspective on the potential market impact of the U.S. Spot Ethereum ETF. While the launch is eagerly anticipated, it remains to be seen whether the EtBlock

hereum ETF will be able to attract significant investment compared to the success of Bitcoin ETFs in the U.S. market.