Ah the weekend a time to relax and enjoy some time. But in the world of crypto and 24/7/365 trading crypto just takes over your life really. But it does so in a good way. I've come to love it since starting to mine bitcoin back in 2011.
Working with crypto for so long I've seen some things and it doesn't look anything like what it used to. We now have ETFs spot trading the crypto instead of owning it directly in your own wallet. It's crazy to me but a vast majority of people would prefer this over owning and controlling the wallet themselves for some reason. I guess they trust someone else over themselves which is a bit wild.
This year we also got breaking news the Ethereum was approved to have their own ETF. Those ETFs were expected to be delayed for release until August or September however we are starting to get signals that the spot $ETH ETF could very well come next week! That would be some time between July 15th to July 19th.
While many feel the Ethereum ETF wont be as big of a deal I honestly think the other way. The reasons for this is that Ethereum is the core blockchain in which applications and other tokens are built on. Two massive things that Bitcoin simple cannot do. Ethereum also now houses the largest of the wealth in terms of places like BlackRock launching their own RWA (Real World Asset) on Ethereum.
Once Ethereum gets listed as a spot ETF on the open markets it's open season for not only 401ks but also instructional investors. That's mainly because the clearing houses by that point should have their ducks in a row from the delay they had with Bitcoin and know that they need to be ready for the Ethereum version of it. I expect there would be more push for this as well being that major money holders like Blackrock have a vest interest in the success of Ethereum.
Unlike the Bitcoin ETF the Ethereum ETF should actully hold more weight in terms of altcoins. This is because many layer two tokens built on top of Ethereum would see increased prices as well before they got rebalanced out.
This push should mean we wont just see Ethereum move in value but instead a vast majority of the rest of the crypto industry.
Do you believe the Spot Ethereum ETF will be launch this week coming up? Or are we in for more delays?
