10x Research: Ethereum spot ETF is expected to be approved on July 2, with an estimated $2.8 billion in funds

ChainCatcher news, 10x Research CEO Markus Thielen stated that the Ethereum spot ETF could be approved at any time and is expected to launch next week.

VanEck's CEO met with U.S. SEC officials on Monday and has submitted its Ethereum spot ETF application Form 8-A. VanEck submitted the Form 8-A seven days before the approval of its Bitcoin ETF, leading to speculation that the Ethereum ETF could be approved next Tuesday, July 2. VanEck's Bitcoin ETF has an asset management scale of $600 million.

The general expectation is that the Ethereum ETF will attract about 15-20% (approximately $14 billion) of the funds that the Bitcoin ETF has, which is expected to reach $2.8 billion (approximately the amount of increase in open positions of Ethereum perpetual futures contracts since the related news was announced on May 20), thus the market is already prepared for this approval.