The launch of the first spot Ethereum exchange-traded fund (ETF) opens the door for more cryptocurrency exchange-traded funds, including Solana-based ETFs.
The upcoming launch of the first spot Ether (ETH) ETF could pave the way for more cryptocurrency ETFs, according to Bloomberg senior ETF analyst Eric Balchunas.
Analysts expect to see more products based on Ethereum and Solana (SOL), according to a statement from XRP on July 15. post:
“There will be an influx after launch, then more ETH products, then Solana, then… it will probably never end. The dam has broken.”
Balchunas is one of the most trusted ETF analysts across both legacy and digital asset-based ETFs.
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First spot Ethereum ETF could start trading on July 23
The first U.S. spot Ethereum ETF could begin trading as early as July 23, following reports that the U.S. Securities and Exchange Commission (SEC) has issued final instructions to asset managers.
According to Balchunas, the commission directed issuers to submit their final S-1 filings by July 16, with a goal of launching the new funds on July 23. The final filing must include the fees the issuers plan to charge on the new cryptocurrency funds.
On May 23, the agency approved the issuer’s Form 19-b, proposing rule changes to allow cryptocurrency-based investment vehicles. The asset manager now needs approval for its initial securities registration form, the S-1.
The upcoming Ethereum ETF could help boost the price of Ethereum, which has been on a downward trend for more than a month since the end of May.
Ethereum prices have reversed a month-long downward trend after bottoming out just above $2,800 on July 8, according to CoinMarketCap. data.
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Hybrid Crypto ETF is ‘100%’ in the works: Balchunas
Following the launch of the first ETH ETF, we may see the debut of an ETF that invests in multiple cryptocurrencies.
When asked about the possibility of the asset manager filing for an ETF with mixed exposure to Bitcoin and Ethereum, Balchunas wrote that this is a “100%” possibility.
“100%. They’re going to be totally Frankensteined.”
As for an Ethereum-based ETF, analysts predict that an Ethereum ETF could garner significant interest from investors and trigger up to $10 billion in new inflows within the first few months of its launch.
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