The spot Ethereum exchange-traded funds (ETF) are set to start trading on July 23rd, as predicted by Bloomberg ETF analysts James Seyffart and Eric Balchunas. As reported by Crypto Briefing, most asset managers submitted their S-1 forms, except Proshares. As the potential launch day gets closer, experts shared their expectations for the Ethereum (ETH) price, painting a divided landscape.

Eneko Knörr, CEO of Stabolut, highlighted the Bitcoin (BTC) price movement before the spot ETF approval when BTC jumped from $26,000 to $46,000.

“This surge was driven by a combination of the ‘halving effect’ and the anticipation surrounding the ETF approval. Following the approval, BTC saw a 15% decline within days to then reach an ATH in March 2024 of $72,000,” explained Knörr.

Therefore, the odds are the market will witness a similar movement in ETH prices. Since the initial rumors of the ETF approval began to solidify, there has been a noticeable bullish sentiment in the market. “We can expect ETH prices to continue rising in the coming days and weeks.”

However, a “sell the news” event is not out of the question for the CEO of Stabolut, which will result in a brief correction. Nevertheless, the correction could be met by a renewed surge as new capital flows into the Ethereum market. “Overall, my perspective on Ethereum’s potential is quite optimistic.”

On the other hand, Ruslan Lienka, chief of markets at YouHodler, doesn’t anticipate a price correction caused by a “sell the news event.” He explained that the “buy the rumor” phase is not fully realized as it was with the Bitcoin ETF.

“While we may observe heightened volatility immediately after approval, the news has not yet been fully priced in. Consequently, it is advisable to hold and accumulate the asset over the medium to long term,” said Lienka.

Despite the absence of a significant increase in demand for ETH, which typically precedes a correction, the chief of markets at YouHodler highlighted that an outflow of ETH from crypto exchanges can be seen, indicating that long-term investors are continuing to accumulate.

In the long term, Darren Franceschini, co-founder of Fideum, is certain of price growth for ETH due to higher adoption. The availability of these ETFs will open up Ethereum investment opportunities to a wider range of investors who may have been hesitant to directly purchase and manage ETH so far.

“This increased participation from traditional investors can drive greater demand and liquidity for Ethereum, potentially leading to more pronounced price movements. Coupled with that, the ability to trade Ethereum through ETFs on regulated exchanges provides an additional layer of familiarity and trust for investors,” added Franceschini.