Approval Process Nearing Completion
A Bloomberg expert predicts that spot market Ethereum (ETH) ETFs could be approved in the US by July 2nd. Senior ETF analyst Eric Balchunas says that the US Securities and Exchange Commission (SEC) has responded to filings from major financial firms, indicating that approval is imminent.
“We are moving up our over/under date for the launch of spot Ether ETF to July 2nd, hearing the staff sent issuers comments on S-1s [on Friday], and they’re pretty light, nothing major, asking for them back in a week,” Balchunas said.
SEC’s Positive Signals
The SEC previously approved 19b-4 filings from firms including BlackRock, Fidelity, and Grayscale. Balchunas notes that the SEC’s request for minor modifications suggests that approval is close.
Industry Optimism
Former SEC Chair Jay Clayton has stated that the approval of ETH ETFs is “inevitable.” This optimism is shared by many in the cryptocurrency industry.
Disclaimer: The information provided is not investment advice. Investors should conduct their own research before making any investments.
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