A Bloomberg exchange-traded fund (ETF) expert says that spot market Ethereum (ETH) ETFs can be expected in the US by early July.
In a new thread on the social media platform X, senior ETF analyst Eric Balchunas says ETH-based ETFs may be approved by July 2nd after it was found out that the U.S. Securities and Exchange Commission (SEC) responded to S-1 filings by several marquee financial firms.
According to Balchunas, the regulatory agency sending back the forms for modifications implies that approval is right around the corner.
“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.
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.”
The SEC approved 19b-4 filings from the firms earlier this year, which included bids from BlackRock, Fidelity, VanEck, Grayscale, Bitwise, ARK, Franklin Templeton and Invesco Galaxy.
Balchunas notes that his original date for the approval of ETH ETFs was July 4th.
“Our previous over/under was July 4th so this isn’t major shift but 1) we started to feel like it would take longer so this is kinda good news and 2) we basically decide the over/under on where are most torn 50-50 on where to bet and July 2nd is that date right now.”
In May, former SEC Chair Jay Clayton said that the regulatory body’s approval of the firm’s 19b-4 filings means that approval of ETH ETFs is “inevitable.”
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