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Ethereum ETFs May Be Approved by July 2, Top Expert Reveals

Published 06/16/2024, 09:21 PM
Updated 06/17/2024, 01:15 AM
© Reuters Ethereum ETFs May Be Approved by July 2, Top Expert Reveals

U.Today - The approval of Ethereum ETFs could be just around the corner, with top experts suggesting a possible date of July 2. As reported by U.Today recently, SEC boss Gary Gensler hinted that the agency could approve S-1 forms for spot exchange-traded funds on major altcoins "sometime this summer."

The SEC has already taken steps to allow the listing and trading of eight Ethereum ETFs by approving rule changes. However, S-1 registration forms, which contain detailed information about the products, are still needed before they can go live. The SEC asked issuers for updated S-1 forms in late May, indicating that the process is still moving forward.

Eric Balchunas, senior ETF analyst for Bloomberg, has predicted that the regulator could approve these forms by July 2. He noted that SEC staff recently sent issuers minor comments on the forms and asked for responses within a week. The expert believes there is a good chance the commission will finalize its decision before Independence Day weekend, making July 2 a likely date for approval.

Nate Geraci, another ETF analyst, also sees this as a positive sign, suggesting that there is not much left to do before final approval.

The potential approval of Ethereum ETFs may become a pivotal event for the crypto market as it could open up new investment opportunities and drive further adoption of digital assets. While the SEC nears its final decision, the community is watching closely, anticipating the impact on both institutional and retail investors.

This content was originally published on U.Today

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