Ethereum ETFs could go live in July, analyst says

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As a seasoned crypto investor with a keen interest in the Ethereum (ETH) space, I’m keeping a close eye on the latest developments regarding the potential launch of spot Ether ETFs in the United States. The recent updates from Bloomberg analyst Eric Balchunas and SEC Chairman Gary Gensler have brought renewed optimism to the community, suggesting that we might be on the cusp of a significant milestone for Ethereum adoption.

According to Bloomberg analyst Eric Balchunas, it is anticipated that Ether (ETH) spot Exchange-Traded Funds (ETFs) will become available for trading in the United States as early as July.

The anticipated release date for spot Ethereum exchange-traded funds (ETFs), as announced by Balchunas, has been revised to July 2.

The cryptocurrency specialist observed that the U.S. Securities and Exchange Commission (SEC) staff had provided feedback on the S-1 filings to the issuers, characterizing it as “relatively minimal” and free of significant concerns.

As a crypto investor, I’d interpret his statement to mean that the Securities and Exchange Commission (SEC) has given us a week to respond, implying a good probability of the ETFs being approved as early as the following week. This could potentially happen before the upcoming “holiday weekend.”

Balchunas emphasized that while anything is possible, this is their best estimate at the moment.

As an analyst, I have new information to share regarding the expected launch date for the spot Ether Exchange-Traded Fund (ETF). The over/under date is being advanced to July 2nd. Today, we received word that the Securities and Exchange Commission (SEC) staff has reviewed and provided comments on the issuers’ S-1 filings. These comments are relatively light and do not involve major changes. The SEC is requesting that the issuers resubmit their filings within a week. Given this development, there’s a good likelihood that the SEC will declare these filings effective shortly after their return, potentially paving the way for the Ether ETF launch on or around July 2nd.

— Eric Balchunas (@EricBalchunas) June 14, 2024

On June 13, Chairman Gary Gensler of the Securities and Exchange Commission (SEC) offered insights regarding Ethereum ETFs during his testimony before Senator Bill Hagerty.

Gensler signaled that he anticipates completing the review process for Ethereum SPOT ETF applications before summer’s end. His remarks add weight to the assumption that regulatory approval is imminent and should occur within the current season.

Balchunas additionally noted that the entities planning to launch Ethereum SPOT ETFs were anticipating responses from the SEC’s Corporate Finance Division (Corp Fin) regarding their S-1 applications, which they had submitted about two weeks prior.

I was informed that the hold-up in our crypto investment process was due to Corporate Finance (Corp Fin) going over our documents for the first time. He mentioned that this unexpected hurdle most likely resulted from a recent political shift within the Securities and Exchange Commission (SEC), catching Corp Fin off guard as well.

Balchunas stressed that it’s unclear how soon Corp Fin would give priority and complete the processing of the filings.

From my perspective as a researcher, it’s been observed that Ethereum Exchange-Traded Funds (ETFs) might not garner the same level of interest as Bitcoin ETFs due to the lack of staking functionality they provide.

As an analyst, I’ve observed SEC Commissioner Hester Peirce’s perspective on Ethereum’s classification. Known for her progressive views on cryptocurrencies and fondly referred to as “Crypto Mom,” she has raised concerns about the Securities and Exchange Commission (SEC) treating Ethereum as a security, unlike Bitcoin which is classified as a commodity.

According to the SEC’s stance, Ether is classified as a security. This distinction brings unique complications when it comes to the approval procedure for Ether ETFs, as opposed to Bitcoin ETFs.

The Ethereum ETF journey so far

As a researcher studying the cryptocurrency market, I’m excited to report that the SEC has begun the review process for proposed Ethereum ETFs. This is a significant step forward in the evolution of the Ethereum blockchain and the broader crypto industry.

Eight ETF filing proposals were given the green light by the SEC on May 23rd. Yet, trading of these ETFs will only become available once they secure the necessary approvals for their S-1 registration statements.

19b-4 forms are documents filed with the SEC proposing changes to existing rules or regulations, enabling the listing and sale of new exchange-traded funds (ETFs). The SEC’s approval of these forms allows exchanges to list the ETFs for trading, but it doesn’t guarantee that trading will begin right away.

As a researcher studying the developments in the world of Ethereum Exchange-Traded Funds (ETFs), I’m thrilled to report that recent progress signifies a substantial step forward in the approval process. The cryptocurrency community, including myself, has long anticipated this advancement with great anticipation.

At the same time, the Securities and Exchange Commission (SEC) is examining the S-1 registration documents submitted by Ethereum ETF (Exchange Traded Fund) prospective issuers. These documents provide extensive information about the companies themselves and the securities they intend to bring to market.

As of now, Ethereum (ETH) is priced at approximately $3,562.97, marking a 2.5% rise in value over the past day. However, this digital currency has experienced a 3.5% decrease in value on a weekly basis, based on CoinGecko’s latest data.

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2024-06-15 19:56