According to Eric Balchunas, an ETF analyst for Bloomberg, spot Ethereum ETFs will likely begin trading in the US before July 2.
ETFs tracking Ethereum (ETH) may begin trading in the US by July 2, based on the report by Eric Balchunas, Bloomberg’s ETF expert, with ticker symbols now trading at $3,546.
“We are moving up our over/under date for the launch of spot Ether ETF to July 2nd,” Balchunas penned in a June 15 post on Twitter that the SEC officials left the ETF applicants’ S-1 applications with very few remarks, asking that they be returned the following week.
“Decent chance they work to declare them effective the next week and get it off their plate before the holiday weekend. Anything is possible but this is our best guess as of now,” he went on stating July 4th as U.S Independence Day, an annual commemoration.
The remarks showed a shift in assurance from the day before. Balchunas had before said that applicants for Ether ETFs were awaiting a response from the SEC’s Division of Corporation Finance, which is in charge of monitoring disclosures made by companies. He was thinking of postponing his July 4 prediction.
The SEC accepted eight applications, or 19b-4 filings, on May 23 to offer spot Ether ETFs on many US exchanges. But until these ETFs get the required clearances for their S-1 registration statements, they are unable to start trading.
SEC Chair Gensler Offers Broader Approval Timeline
Spot Ether ETF trading may begin in the next three months, by the end of September, according to a more expansive timeline provided by SEC Chair Gary Gensler.
One week before that, though, Gensler stated that the issuers’ ability to reply to SEC objections would determine how swiftly Ether ETFs receive approval.
Certain traders assume that Ethers’s price would exhibit a pattern like that of Bitcoin. The ETF received approval on January 11 and by March 13 it had hit a record high of $73679. But not everybody is as positive as this.
Fireblocks’ chief financial markets officer, Stephen Richardson, stated on June 3 that spot Ether exchange-traded funds (ETFs) won’t get the same level of early demand that spot Bitcoin ETFs did on their debut. This is due to the complexity of assessing Ethereum’s many applications.
He mentioned in a statement to famous news website:
“What’s missing is widespread consensus that effectively evaluates the utility or utilization rate of the Ethereum blockchain.”
