Bloomberg exchange-traded fund (ETF) experts are delaying the expected approval date for a spot-market Ethereum (ETH) ETF following recent comments from the U.S. Securities and Exchange Commission (SEC).
In a new thread on the social media platform X, Bloomberg ETF specialist Eric Balchunas said: To tell The spot ETH ETF likely won’t be approved until after the July 4th holiday weekend (which runs until the 8th), as many SEC employees will be on vacation until then.
“Unfortunately, we [are] The over/under needs to be postponed until later. [the] It’s the holidays. The SEC seems to have taken extra time this week to respond to people (but very lightly). From what I’ve heard, next week is a dead week due to the holiday = July 8th. The process will resume and start shortly after.”
Balchunas said last month he expected the ETF to be approved by July 2 after the SEC responded to several S-1 applications filed by the financial giants.
At the time, it emerged that regulators had sent the applications back to the companies for revisions, suggesting approval was imminent.
More than a week later, SEC Chairman Gary Gensler suggested the regulator plans to approve an ETH-based spot market ETF application, but did not provide a specific date. At the time, Gensler said the SEC was currently working on developing the required disclosure documents.
“What’s important is that the asset manager does full disclosure, the registration statement goes live and the lawyers know what it’s all about.
This is something our corporate finance department has handled hundreds, maybe thousands, of times throughout our people’s careers. It works seamlessly. It’s really the asset manager’s responsibility to make the appropriate disclosures.”
A spot-market Bitcoin (BTC) ETF was approved by the SEC in January, bringing billions of dollars worth of inflows into the top crypto asset by market cap, and there has also been a recent bid to create an ETF based on Ethereum rival Solana (SOL).
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Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies and digital assets. Transfers and transactions are at your own risk and you are responsible for any losses incurred. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and is not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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Bloomberg ETF Expert Moves Estimated Ethereum ETF Approval Date Following New SEC Comments – The Daily Hodl
Bloomberg exchange-traded fund (ETF) experts are delaying the expected approval date for a spot-market Ethereum (ETH) ETF following recent comments from the U.S. Securities and Exchange Commission (SEC).
In a new thread on the social media platform X, Bloomberg ETF specialist Eric Balchunas said: To tell The spot ETH ETF likely won’t be approved until after the July 4th holiday weekend (which runs until the 8th), as many SEC employees will be on vacation until then.
“Unfortunately, we [are] The over/under needs to be postponed until later. [the] It’s the holidays. The SEC seems to have taken extra time this week to respond to people (but very lightly). From what I’ve heard, next week is a dead week due to the holiday = July 8th. The process will resume and start shortly after.”
Balchunas said last month he expected the ETF to be approved by July 2 after the SEC responded to several S-1 applications filed by the financial giants.
At the time, it emerged that regulators had sent the applications back to the companies for revisions, suggesting approval was imminent.
More than a week later, SEC Chairman Gary Gensler suggested the regulator plans to approve an ETH-based spot market ETF application, but did not provide a specific date. At the time, Gensler said the SEC was currently working on developing the required disclosure documents.
“What’s important is that the asset manager does full disclosure, the registration statement goes live and the lawyers know what it’s all about.
This is something our corporate finance department has handled hundreds, maybe thousands, of times throughout our people’s careers. It works seamlessly. It’s really the asset manager’s responsibility to make the appropriate disclosures.”
A spot-market Bitcoin (BTC) ETF was approved by the SEC in January, bringing billions of dollars worth of inflows into the top crypto asset by market cap, and there has also been a recent bid to create an ETF based on Ethereum rival Solana (SOL).
Don’t miss out on the latest news – subscribe to receive email alerts directly to your inbox
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follow me X, Facebook and telegram
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Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies and digital assets. Transfers and transactions are at your own risk and you are responsible for any losses incurred. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and is not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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