Anticipated Launch of Spot Ethereum ETF Edges Closer, Targeted for July 2024
The eagerly awaited launch of a spot Ethereum ETF is reportedly on the horizon. According to Bloomberg analyst Eric Balchunas, the projected launch date is now set for July 2, 2024.
This updated timeline follows the Securities and Exchange Commission (SEC) staff's recent feedback on the S-1 filings submitted by companies enthusiastic about launching Ether ETFs. Balchunas highlights that the SEC's comments were relatively minor, necessitating only minor adjustments within a week.
“Decent chance they work to declare them effective the next week and get it off their plate before the holiday weekend,” noted Balchunas, implying the SEC's intention to expedite the approval process.
The launch date is in alignment with SEC Chair Gary Gensler’s recent statement indicating that approvals might occur “by the end of this summer.”
Ether ETFs are poised to offer institutional investors a regulated avenue for investing in Ethereum, potentially boosting its market activity and influencing prices.
This significant development follows the successful launch of Bitcoin-based ETFs earlier this year, which have already started shaping market trends.
Read our detailed analysis on the impact of ETFs on the crypto market dynamics here.
For more updates on Ethereum ETFs and other financial news, stay tuned.
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