It’s hard to believe that almost half a year has passed since we were all waiting for the Bitcoin ETFs to be approved.
Here we are, nearly six months later, in almost the same situation, only now we’re waiting for the Ethereum ETFs to kick off.
It seems that the launch date for Ethereum ETFs is closer than we think, so it’s a good idea to stay well-informed.
Will the Ethereum ETF launch in July?
Eric Balchunas, the same Bloomberg analyst who predicted the approval of the Ethereum ETFs last month, believes they could start trading on July 2nd.
The SEC has been contacting all investment firms that have submitted applications for Ethereum ETFs, so everything could be resolved in two weeks.
Additionally, the SEC has closed its investigation into ETH and will not press charges against Ethereum, which is a significant victory for the community… but it could also be a sign that the Ethereum ETFs are imminent.
Spot ETFs could revolutionize Ethereum and open the doors to massive institutional adoption, potentially boosting the price of ETH.
Such a significant change makes it necessary to create a long-term strategy and prepare.
A good way to do this is by creating your own recurring purchase strategy: set up how much ETH you want to buy and how often you want the purchase to be made automatically (daily, weekly, or monthly).
Ethereum tokens lead the recovery
The end of the SEC investigation into Ethereum has caused some of its tokens, like LIDO, ENS, or ENA, to experience notable growth.
For example, LIDO, the native token of the Ethereum staking protocol, Lido Finance, has risen more than 22% in the last 7 days, while ENS, the token of the Ethereum Name Service domain name service, has gained more than 30% in the same period.
The increase is not only due to the end of Ethereum’s battle against the SEC but also to a series of improvements: ENS has implemented a Layer 2, and LIDO has implemented a restaking service, new improvements to its protocol, and introduced a profit-sharing system that could be implemented in the future.
Coin of the Week: CVX
CVX, the token of Convex Finance, has risen more than 78% in the last week and has experienced trading volumes higher than those of the main DeFi protocols.
Convex Finance uses a rewards model based on “bribes” offered every two weeks, which are very attractive to users as they can exceed 30% APR, incentivizing users to provide liquidity and increase their positions to gain ever-greater rewards.
The growth of CVX also highlights the increasing user interest in the DeFi ecosystem over the past few months.
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