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Spot Ethereum ETFs May Launch in July, Experts Predict

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BlackRock, a prominent asset management firm, has recently updated its S-1 filing with the US Securities and Exchange Commission (SEC). This indicates significant progress toward launching a spot Ethereum (ETH) exchange-traded fund (ETF).

The crypto community and experts see this update as a critical step, aligning with similar moves by other asset managers, such as VanEck.

Key Industry Perspectives on Spot Ethereum ETF Launch Timelines

In the updated document, BlackRock explicitly states that the Trust will not engage in any “Staking Activities,” which involve using its ETH for Ethereum proof-of-stake (PoS) validation or generating income from such actions. As a result, the Trust will not receive any staking rewards or earnings from these activities.

“Foregoing potential returns from Staking Activities could cause an investment in the Shares to deviate from that which would have been obtained by purchasing and holding ether directly by virtue of giving up staking as a source of return when an investor holds the Shares,” the updated document reads.

Read more: Ethereum ETF Explained: What It Is and How It Works

This stance mirrors VanEck’s recent S-1 filing update. BeInCrypto previously reported that VanEck clarified none of its affiliated parties would participate in staking activities. These industry leaders’ proactive approach suggests a coordinated effort to meet SEC requirements and advance the launch of Ethereum ETFs.

In a separate development, the Depository Trust & Clearing Corporation (DTCC) has also listed Fidelity’s spot Ethereum ETF on its website under the ticker FETH. This listing by DTCC adds another layer of legitimacy and anticipation for the forthcoming offerings in the crypto ETF space. However, despite these promising signs, the official launch remains contingent on the SEC’s approval of the S-1 forms.

Nonetheless, industry experts have shared their insights on the potential timelines for these launches. James Seyffart, an ETF analyst at Bloomberg, expressed optimism, stating that the SEC and issuers are actively working towards the launch of spot Ethereum ETFs. He noted that the current engagement on the S-1 filings suggests a launch could occur within weeks.

“We’re already one week in. The norm is months though,” Seyffart added.

Eric Balchunas, another ETF analyst at Bloomberg, reinforced this optimism. He suggested that while an end-of-June launch is possible, he maintains a more conservative estimate of July 4. Balchunas also addressed the possibility of an accelerated approval but deemed it unlikely unless there is a significant political impetus to expedite the process.

“Good sign. Probably [we will] see the rest roll in soon. Then, probably one more round of fine-tuning comments from [the SEC] Staff,” Balchunas suggested.

Read more: How to Invest in Ethereum ETFs?

As these developments unfold, the financial and crypto communities remain watchful, anticipating the potential impact of these ETFs on the market. The coordinated efforts of major asset managers and the SEC’s engagement indicate a pivotal moment for Ethereum investment vehicles.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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XRP Price Eyes $2.0 Breakout—Can It Hold and Ignite a Bullish Surge?

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Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.



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Onyxcoin Buyers Drive Strong Demand as XCN Surges Past $0.01

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Onyxcoin has surged by nearly 30% in the past 24 hours, riding the wave of a broader crypto market rally. 

But beyond the market-wide momentum, on-chain data suggests that XCN’s spike, its strongest in over a month, is driven by genuine demand for the altcoin.

Onyxcoin Rallies, But There Is a Catch

XCN’s double-digit rally has been accompanied by a surge in its daily trading volume. This totals $128 million at press time, rocketing 480% over the past day.

XCN Price/Trading Volume.
XCN Price/Trading Volume. Source: Santiment

When an asset’s price and trading volume spike simultaneously, it signals strong market interest and momentum. This means more participants are actively trading XCN and validating its price movement. 

Moreover, the daily count of active addresses that have traded XCN today has climbed to a 60-day high of 1,646. 

XCN Active Addresses
XCN Active Addresses. Source: Santiment

This spike in active addresses reflects growing retail and possibly institutional interest in XCN. More wallets transacting the token typically suggests broader network participation and confidence, which can serve as a strong bullish signal for the asset.

However, not all traders share this bullish sentiment. In the XCN futures market, the outlook is persistently bearish, as reflected by the token’s negative funding rate. This is at a two-month low of -0.18% at press time. 

XCN Funding Rate
XCN Funding Rate. Source: Coinglass

The funding rate is a periodic fee exchanged between long and short traders in perpetual futures to keep the contract price in line with the spot price. 

When an asset’s funding rate is negative like this, short traders pay long traders. This indicates bearish sentiment and that more XCN traders are betting on the price to fall.

XCN Clears Key Barrier as Accumulation Grows — Is $0.015 Next?

Apart from the broader market recovery, the price rally is also supported by a visible uptick in on-chain user engagement, signaling that XCN traders are not just following hype but are actively accumulating.

On the daily chart, XCN has broken above the crucial $0.01 resistance level—a price point it struggled to break for two weeks. If the rally persists, XCN’s price could climb to $0.015, a high it last reached on March 5.

XCN Price Analysis
XCN Price Analysis. Source: TradingView

However, if market participants begin profit-taking, XCN could shed its recent gains and fall below the $0.011 support toward $0.0075.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Solana (SOL) Jumps But Smacks Into $120 Resistance Wall—Can It Break Through?

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Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.



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