Ethereum ETFs Poised for Launch Next Week, Affirmed by Bloomberg Analyst
The approval of spot Ethereum exchange-traded funds (ETFs) by the Securities and Exchange Commission (SEC) is expected next week, with trading set to commence on July 23, according to Bloomberg senior ETF analyst Eric Balchunas, who cited industry sources on July 15.
Recent interactions between the SEC and ETF issuers have hinted at a potential go-ahead for these eagerly awaited financial instruments. Balchunas shared on social media that the SEC has directed issuers to submit their final S-1 forms, along with required fees, by July 17. It is anticipated that the SEC will request effectiveness post the close of business on July 22, paving the way for the launch of Ethereum ETFs on Tuesday.
Amidst mounting excitement in the crypto community, ETF Store President Nate Geraci has forecasted this week as the probable approval period for spot Ethereum ETFs. He expressed optimism by stating, “Welcome to spot eth ETF approval week… I’m calling it. Don’t know anything specific, just can’t come up w/ good reason for any further delay at this point. Issuers ready for launch.”
The anticipated approval timing by the SEC aligns with the largest Bitcoin conference of the year, further fueling enthusiasm within the crypto sector. The introduction of spot ETH ETFs is viewed as a significant milestone for the industry, offering investors a regulated avenue to access Ethereum.
Post-launch, market observers anticipate substantial capital inflows and the potential introduction of more cryptocurrency-based financial products, including those centered on Solana and other digital assets. Balchunas suggested that this marks the initiation of crypto ETFs, with other tokens likely to follow the paths of Bitcoin and Ethereum, starting with Solana. He remarked, “Keep in mind after launch there’s flows and then add’l eth products I’m sure, then Solana, and then… it’s prob never going to end. The dam has broken.”
At the time of reporting, Ethereum had surged by 5.23% over the past 24 hours, trading at $3418, as per CryptoSlate data. Ethereum holds the second position based on market capitalization, with a 6.94% price increase in the last 24 hours. Its market cap stands at $419.56 billion, with a trading volume of $18.13 billion.
The forthcoming approval of Ethereum ETFs signifies a significant development in the crypto space, paving the way for increased investor participation and potentially heralding a new era of diversified cryptocurrency investment opportunities.
