BlackRock Files S-1 Application For Spot Ethereum ETFs, Predicted July Launch Could Kickstart Altcoin Season
The world’s largest asset manager, BlackRock, recently updated its S-1 filing, which showed progress and that the Spot Ethereum ETFs could launch soon enough. Market experts predict that trading could begin sometime in July, with this event expected to kickstart the altcoin season. This paves the way for tokens like ETFSwap (ETFS) to move significantly to the upside.
ETFSwap (ETFS) To Be The Biggest Gainer In Altcoin Season
ETFSwap (ETFS) is well-placed to be the biggest gainer when the altcoin season begins. This is because the crypto token is bound to enjoy all the narratives around which the altcoin season will be centered. This includes the Spot Ethereum ETFs, which are predicted to kickstart this season.
ETFS is the native token of the decentralized exchange-traded fund (ETF) investment platform ETFSwap. The platform will tokenize funds like the Spot Ethereum ETFs, which is why all eyes will be on the ETFSwap (ETFS) ecosystem once these Ethereum ETFs begin trading.
ETFSwap’s unique selling point (USP) is its user-friendly interface, which enables easy conversion between cryptocurrencies and ETFs. This gives users the best of decentralized finance (DeFi) and traditional finance (TradFi). By acting as a bridge between both worlds, ETFSwap (ETFS) is well-positioned to enjoy both narratives (crypto and ETFs).
Therefore, when the infamous altcoin season kicks off, ETFSwap (ETFS) is set to stand out because it isn’t just known as a crypto token but one that has ties to the Spot Ethereum ETFs, which kickstarted the altcoin season. It is worth highlighting ETFSwap’s (ETFS) role as the bridge between the crypto and ETF world.
Investors looking to diversify their portfolio between these crypto and traditional assets can simply do this by holding the ETFSwap (ETFS) token. They will use the ETFSwap (ETFS) token to convert to any ETF of their choice, or they can convert their ETF holdings to the ETFSwap (ETFS) token and swap them with any crypto asset they wish.
ETFSwap (ETFS) is an ERC-20 token, meaning investors can easily convert their ETFSwap (ETFS) token to an array of crypto assets. Meanwhile, investors looking to invest in the tokenized ETFs on the platform also have a variety of options, with these ETFs cutting across crypto, leveraged, commodity, fixed income, and market ETFs.
Spot Ethereum ETFs To Start Trading In July Following BlackRock Filing
Bloomberg analyst Eric Balchunas mentioned that the Spot Ethereum ETFs will likely begin trading on July 4th although he added that a June launch remains a “legit possibility.” He noted that BlackRock’s update of its S-1 filing for its Spot Ethereum ETF is a “good sign.”
Balchunas believes there will still be one final round of comments from the Securities and Exchange Commission (SEC), leading to another updated S-1 filing from the Spot Ethereum ETF issuers. This is another reason he opined that the Spot Ethereum ETFs could still take a month before they begin trading.
The Bloomberg analyst also claimed that the SEC has no “real reason to rush” since the Democrats already achieved their political goal of not appearing anti-crypto by approving these Spot Ethereum ETFs. As such, it is unlikely that the SEC will hasten up S-1 approvals so these Spot Ethereum ETFs can begin trading as soon as possible.
Meanwhile, it is worth mentioning that BlackRock clearly stated in their updated S-1 filing that they won’t be engaging in staking activities using the Ethereum (ETH) for its Spot Ethereum ETF. This provides another reason why TradFi investors are likely to move on-chain and use ETFSwap (ETFS) to invest in the Spot Ethereum ETFs while also earning staking rewards by staking their Ethereum (ETH) tokens.
Conclusion On ETFSwap (ETFS) Being The Obvious Play
The altcoin season this time around could be more parabolic than previous cycles. These crypto tokens have lagged longer than usual and have undergone a healthy consolidation, priming them for massive rallies with their prices ripping through the charts. Considering this, an altcoin (ETFS) could easily see a 100x increase from its current price of $0.00854.
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