Ethereum ETFs Set to Debut in 8 Days, Backed by Bloomberg Analyst
The long-awaited launch of spot Ethereum ETFs in the United States seems to be on the horizon after the US Securities and Exchange Commission (SEC) reportedly asked Ethereum ETF issuers to submit their final S-1 filings, including fee structures, by July 17.
Bloomberg ETF expert Eric Balchunas shared on social media the SEC’s request for final Ethereum ETF filings, indicating progress in the approval process and hinting at a potential launch date of July 23. Balchunas mentioned that the SEC had asked issuers to return final S-1s by Wednesday and request effectiveness by Monday for a possible Tuesday launch.
Bitwise Investment, one of the Ethereum ETF applicants, has been smoothly adjusting its S-1 filings, encountering fewer issues along the way, as noted by the firm’s CCO Katherine Dowling. While there were initial expectations for Ethereum ETF approval by July 4, the launch date was postponed to July 23 due to the need for additional review and finalization.
The news of the impending Ethereum ETF launch has already energized investors, leading to a notable 7% surge in Ethereum’s price on Monday, surpassing the $3,430 mark for the first time in two weeks. Trading volume for the token also increased by 71%, reflecting the widespread interest and anticipation surrounding the introduction of Ethereum ETFs and the potential positive impact on its price.
The surge in Ethereum’s price and trading volume underscores the market’s eagerness for the introduction of Ethereum ETFs and the potential benefits they may bring. The anticipated launch of these ETFs has generated optimism among investors, driving up Ethereum’s value and trading activity in the crypto market.
The daily chart illustrates Ethereum’s price trending upwards, signaling positive market sentiment and increasing demand for the cryptocurrency. With the launch of spot Ethereum ETFs on the horizon, investors are closely monitoring developments in the crypto market and preparing for potential opportunities that may arise from this significant milestone.
