The crypto industry anticipates a significant milestone with the imminent approval of a spot Ethereum (CRYPTO:ETH) ETF in the United States, likely to trigger a substantial price rally for ETH.

Nate Geraci from The ETF Store forecasts a mid-July launch based on Bloomberg’s timeline, detailing procedural steps and deadlines for S-1 amendments.

Steve Kurz of Galaxy Digital echoes confidence in SEC collaboration, drawing parallels with their successful Bitcoin ETF launch.

Bloomberg’s ETF analyst, Eric Balchunas, supports the mid-July outlook, emphasizing recent SEC instructions and regulatory facilitations.

Market analysts express optimism, citing Ethereum’s stable price above crucial support levels, with expectations of a breakout towards $4,000 in the near term.

Despite short-term consolidations, historical parallels underscore long-term bullish sentiment, urging patience amidst impending ETF developments.