A spot market for Ethereum (ETH) ETFs could launch in the United States by early July, according to a Bloomberg exchange-traded fund (ETF) expert.
In a new thread on social media platform X, senior ETF analyst Eric Balchunas said: To tell The ETH-based ETF could be approved by July 2nd, as the U.S. Securities and Exchange Commission (SEC) has confirmed it has accepted S-1 filings by several large financial companies.
Balchunas said regulators have sent back paperwork for amendments, meaning approval is imminent.
“Following staff comments sent to the issuer on the S-1, we have decided to advance the over/under date for the launch of the Spot Ethereum ETF to July 2nd. [on Friday]it’s pretty minor, no big deal, and they’re asking for it back within a week.
It will likely be declared effective next week and resolved before then. [the] “It’s a holiday weekend. We don’t know what’s going to happen, but this is our best guess at the moment.”
Earlier this year, the SEC approved 19b-4 filings from companies including bids from BlackRock, Fidelity, VanEck, Grayscale, Bitwise, ARK, Franklin Templeton and Invesco Galaxy.
Balchunas Note The original approval date for the ETH ETF was July 4th.
“The last over/under was on the 4th of July, so this isn’t a huge change, but 1) it’s good news because it’s starting to feel like it’s taking longer, and 2) we basically determine the over/under where there’s the biggest 50-50 split on where to bet, and as of now, July 2nd is that date.”
In May, former SEC Chairman Jay Clayton said regulators’ approval of the company’s 19b-4 filing meant that approval of an ETH ETF was “inevitable.”
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