Key Points
- Bitwise’s CIO forecasts a $15 billion investment influx into Ethereum ETFs within the next 18 months.
- Ethereum ETFs are predicted to attract substantial institutional investment, strengthening ETH’s market position.
The crypto industry is buzzing with anticipation for the launch of Ethereum [ETH] Exchange Traded Funds (ETFs).
Speculation about potential launch dates is rife, with some experts suggesting a mid-July debut.
ETF Launch Dates and Predicted Investment Inflows
There are indications that multiple applicants will submit their amended S-1 forms by 8th July, according to Bloomberg.
Nate Geraci, president of The ETF Store, suggests that final approvals could come by 12th July, potentially paving the way for a mid-July launch.
Matt Hougan, CIO of Bitwise, is optimistic about Ethereum’s appeal to institutional investors.
In a discussion with analyst Scott Melker, Hougan shared his belief that the U.S. market will mirror the substantial investment Ethereum attracts in European and Canadian markets.
Hougan’s insights are based on strategic conversations with leaders from major financial institutions.
He highlighted a dialogue with a $100+ billion advisory firm that expressed readiness to diversify into Ethereum upon the launch of an official ETF.
This indicates the financial community’s growing comfort with cryptocurrency as a legitimate asset class.
Ethereum’s Market Performance Amid Downturn
However, Ethereum’s performance has mirrored Bitcoin’s decline amid the broader market downturn.
Ethereum has seen a decrease of approximately 6.2% in the last 24 hours, with a current trading price of $3,139.
Over the past 24 hours, data from Coinglass shows that 113,506 traders have been liquidated, contributing to total liquidations of $317.34 million.
Ethereum-related liquidations account for about $76.51 million of this, primarily in long positions.
Moreover, market intelligence platform Santiment has reported a downturn in Ethereum’s open interest.
CryptoQuant data also shows that Ethereum’s Estimated Leverage Ratio across all exchanges has risen to a notable 0.392, suggesting an increase in leveraged positions relative to the asset’s market cap.
This could indicate a heightened risk of volatility or further liquidations.
Despite these challenges, not all indicators for Ethereum are bearish.
Recent reports show an uptick in Ethereum’s decentralized application (dApp) volume, suggesting some areas of the Ethereum ecosystem continue to see robust activity.
