Analysts speak for ETH: Is the altcoin rally starting?

The price of ETH has risen above $3,300 this week amid expectations that spot Ethereum exchange-traded funds (ETFs) could be launched by the end of the week.

Ether (ETH) is currently trading at $3,331 and has increased by 16% from last week’s price of $2,909, according to TradingView data.

ETF analyst and The ETF Store president Nate Geraci predicted that a list of eight spot ETH ETFs will be launched by the end of this week.

Spot ETH ETFs can ignite the altcoin market!

“Welcome to the Spot ETH ETF approval week. There is nothing clear yet, but I can’t find a good reason for further delay,” Geraci wrote in an X post dated July 14.

Parallel to Geraci’s claim, a close unnamed source in the case told Cointelegraph on July 12 that the spot ETH funds are expected to be released by the end of this week.

Several issuers, including VanEck and 21Shares, submitted amended filings last week in hopes of obtaining final approval from the SEC to list spot Ether ETFs.

Many analysts believe that the launch of ETFs will be a significant catalyst for the price of ETH in the coming months.

Tom Dunleavy, managing partner of the crypto investment company MV Global, told Cointelegraph that he expects ETFs to attract new inflows of up to 10 billion dollars in the coming months, and as a result, ETH will reach all-time highs by the end of the year.

In addition, Dunleavy said that contrary to the common belief among other ETF analysts, Ether ETFs will be ‘easier to sell to Wall Street’ compared to Bitcoin ETFs.

This article does not contain investment advice or recommendations. Every investment and trading activity involves risks, and readers should conduct their own research when making decisions.