- SEC likely to approve spot Ethereum ETFs by next week, aligning with major crypto event dates.
- Bloomberg analysts indicate final registration statements due by Wednesday, launch potentially set for Tuesday, July 23.
The SEC is on the brink of approving spot Ethereum ETFs, with a potential launch date set for July 23, aligning with major events in the cryptocurrency world. This development signals a significant advance in the integration of cryptocurrency investment products into mainstream financial markets.
Welcome to spot eth ETF approval week…
I’m calling it.
Don’t know anything specific, just can’t come up w/ good reason for any further delay at this point.
Issuers ready for launch.
— Nate Geraci (@NateGeraci) July 14, 2024
Bloomberg’s ETF analyst, James Seyffart, recently revealed insights suggesting that the long-awaited spot Ethereum ETFs could receive the green light from the SEC as early as next week. This announcement has sparked anticipation among investors eager to engage more directly with Ethereum through conventional investment channels.
Looks like launch date for the #Ethereum ETFs will be next week on Tuesday July 23rd https://t.co/fm8RW6AvTJ
— James Seyffart (@JSeyff) July 15, 2024
Eric Balchunas of Bloomberg further detailed the preparatory steps being taken by issuers. They have been instructed to submit their final S-1 registration statements by the upcoming Wednesday, aiming for effectiveness the following Monday.
Update: Nate's instincts were right, hearing SEC finally gotten back to issuers today, asking them to return FINAL S-1s on Wed (incl fees) and then request effectiveness on Monday after close for a TUESDAY 7/23 LAUNCH. This is provided no unforeseeable last min issues of course! https://t.co/D21FD9Qf94
— Eric Balchunas (@EricBalchunas) July 15, 2024
This meticulous scheduling underscores the strategic planning behind the launch, aiming to maximize visibility and impact by coinciding with The Bitcoin Conference in Nashville, an event expected to attract significant attention with Donald Trump among its attendees.
The process leading up to this point has involved comprehensive updates and submissions of the necessary 19b-4 forms, which are crucial for trading new ETFs on stock exchanges.
Our editor and analyst had commented on it in X
🚀 The SEC is in talks with #Ethereum ETF issuers regarding S-1 forms. While amended 19b-4 forms are in, the spotlight is now on S-1s. When the exact same process happened with #Bitcoin, the ETF was approved some days later. 🚀🚀🚀
Be ready for the ride, folks! 📈 pic.twitter.com/VJEZ2ww7Kb
— Collin Brown (@CollinBrownXRP) May 23, 2024
The SEC’s procedure for reviewing these forms has seen numerous delays and adjustments, yet the current trajectory suggests a positive outcome is forthcoming.
The market has maintained its optimism despite previous hurdles, buoyed by supportive political shifts and a growing appetite among institutional investors for cryptocurrency-related products.
Should the launch proceed as scheduled, it could mark a pivotal moment for Ethereum and the broader cryptocurrency market, providing both retail and institutional investors with a new, regulated avenue to invest in Ethereum directly from their traditional brokerage accounts.
