Top Analyst Reveals Launch Date for Ethereum ETF
An announcement has been made by Eric Balchunas, a senior ETF analyst at Bloomberg, revealing that Ethereum exchange-traded funds are scheduled for launch on July 23. Potential issuers have been instructed to resubmit their final S-1 forms to the U.S. Securities and Exchange Commission by Wednesday.
Interestingly, the debut of Ether ETFs is slated to coincide with the Bitcoin 2024 Conference. Despite this, there is a possibility of delays in the launch of these products due to last-minute issues.
Nate Geraci, the president of the ETF Store, expressed his inability to find a compelling reason for the SEC to further postpone the launch of these products, emphasizing that everything is in order for the launch.
In a surprising turn of events, the SEC approved 19b-4 filings for several spot Ethereum ETFs in May, despite initial expectations of rejection. There remains uncertainty surrounding the level of demand these products will attract upon launch.
Major financial institution JPMorgan anticipates that Ethereum ETFs will not perform as well as Bitcoin ETFs, while firms native to the crypto space like Gemini foresee moderate success for Ethereum ETFs. Coinbase researchers have suggested that the impact of Ether ETFs on the crypto market could be either positive or negative, depending on the volume of inflows.
The introduction of the first spot altcoin ETFs is anticipated to signify a significant shift in the industry. Additionally, applications for Solana ETFs have been submitted by VanEck and 21Shares, although analysts are skeptical about their approval this year.
