The US Securities and Exchange Commission (SEC) has given the nod for Ethereum ETFs to launch on July 4, sparking excitement among investors. This development comes after the SEC partially approved the ETFs on May 23. The launch is expected to have a significant impact on the price of Ethereum, with long-term investors showing confidence in its potential increase.

According to data analysis platform Glassnode, the LTH-NUPL data indicates that long-term investors are optimistic about Ethereum's price surge. This data considers the behavior of holders who have owned the cryptocurrency for more than 155 days and shows different sentiments in various colors. Currently, the data is in the green zone, indicating confidence in the upcoming price increase.

The ETH/BTC ratio is another indicator that could impact Ethereum's price. This ratio shows whether Bitcoin is outperforming Ethereum or vice versa. As of now, the ratio is 0.055, with a 2.33% increase over the last seven days, indicating that Ethereum is outperforming Bitcoin. If this trend continues, Ethereum's value could reach $5,308 by the end of the third quarter.

The approval of Ethereum ETFs is a significant development in the cryptocurrency market, and investors are eagerly waiting to see how it will impact Ethereum's price. With long-term investors showing confidence in its potential increase, it is likely that the launch will lead to a surge in demand for Ethereum.

In conclusion, the SEC's approval of Ethereum ETFs for a July launch has generated excitement among investors, who are bullish on its potential price surge. With long-term investors showing confidence in its increase and the ETH/BTC ratio indicating Ethereum's outperformance, it is likely that the launch will have a significant impact on the cryptocurrency market. As the launch date approaches, all eyes are on Ethereum, and it remains to be seen how its price will react to this development.