Expected Date for Approval of Ethereum ETFs Could Be July 2nd

The cryptocurrency investment community is on the verge of a possible approval of Ethereum Spot ETFs, with expectations pointing to July 2 as a likely date. According to recent analysis, the Securities and Exchange Commission (SEC), led by Gary Gensler, may be getting closer to approving the long-awaited S-1 forms for exchange-traded funds (ETFs) that operate spot transactions in major altcoins. This step is considered crucial for such funds to become a reality.

Since the SEC’s last announcement, the agency has made significant progress, having already approved regulatory changes that facilitate the listing and trading of eight Ethereum ETFs. However, final approval still depends on the delivery and acceptance of S-1 registration forms, which detail critical information about the products offered.

Eric Balchunas, senior ETF analyst at Bloomberg, shared his optimism regarding the imminent approval of these documents. “SEC staff recently sent issuers short comments on the forms and asked for responses within a week,” he explained. Balchunas suggests there is a “good probability” the SEC will finalize its decision before the U.S. Independence Day holiday, pointing to July 2 as a key date.

UPDATE: we are moving up our over/under date for the launch of spot Ether ETF to July 2nd, hearing the Staff sent issuers comments on S-1s today, and they’re pretty light, nothing major, asking for them back in a week. Decent chance they work to declare them effective the next… https://t.co/XJZ8JLwEFF

— Eric Balchunas (@EricBalchunas) June 14, 2024

Another expert in the field, Nate Geraci, echoed this positive sentiment, noting that the latest adjustments requested by the SEC are a good indication that final approval is near. “There is not much to do before final approval,” said Geraci, reinforcing the prospect that the market may soon welcome these new financial instruments.

This news comes at a critical time for the cryptocurrency market, which continues to seek greater legitimacy and acceptance among institutional investors and global regulators. The approval of Ethereum ETFs will not only solidify this cryptocurrency’s position as one of the market leaders, but it could also open new avenues for investors interested in diversifying their portfolios without the need to directly manage digital assets.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.