In the current scenario of financial markets, a promising development is attracting the attention of investors and cryptocurrency enthusiasts. Gary Gensler, Chairman of the US Securities and Exchange Commission (SEC), recently announced that the process for approving Ethereum Spot ETFs is progressing satisfactorily. This statement was made during his participation in the Bloomberg Investment Summit.

According to Gensler, although the approval of the Ethereum ETF was a success, the exact launch date is still uncertain. He revealed that “individual issuers are still working through the registration process, which is working smoothly.” The SEC president expects the launch to take place in the summer, highlighting that only “disclosure and registration” are necessary for completion.

At the same time, Eric Balchunas, ETF analyst at Bloomberg, reinforced the prediction that US Spot Ether ETFs could be launched as early as July 2nd. According to him, the SEC approved 19b-4 filings for eight of these ETFs in the last month. However, final approval of S-1 filings is still pending before ETFs can actually begin trading.

Balchunas shared in a post on Platform X: “We will see a bunch of amended S-1s filed today, probably late afternoon. Then [a] The ball is in the SEC’s court to inform issuers of any final changes and effectiveness.”

Regarding the financial aspect, Balchunas highlighted that, comparatively, the fees for Ethereum Spot ETFs appear to be as low or even lower than those for Bitcoin Spot ETFs. Large managers, such as Blackrock and Vaneck, announced competitive rates, with Blackrock starting with an investment of US$10 million and Vaneck publishing a rate of just 0.20%.

This advance represents a significant milestone for the cryptocurrency market, expanding investment possibilities and consolidating Ethereum’s position on the global financial scene. The SEC’s next steps will be crucial in determining the trading start date and subsequent market impact.

At the time of publication, the price of ETH was quoted at US$3,402.40, up 4% in the last 24 hours.

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.

Source: https://portalcripto.com.br/gary-gensler-aprovacao-de-etfs-spot-de-ethereum-esta-avancando-bem/



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