Eric Balchunas, lead ETF analyst at Bloomberg, has predicted that Ethereum spot exchange-traded funds (ETFs) could begin trading next month.
Balchunas has revised his previous estimate and moved the possible release date from July 4 to July 2.
Why Ethereum ETFs Could Start Trading in July?
According to Eric Balchunas, the staff of the United States Securities and Exchange Commission (SEC) made “pretty light” comments on the S-1 filings of Ethereum spot ETFs. The SEC has requested further adjustments to these filings, which are expected to be made within a week.
“We are bringing forward our launch date for Ether spot ETFs to July 2 as SEC staff sent issuers comments on the S-1s.” [el 14 de junio]and they are quite light, nothing important, and he asks for them to be returned in a week,” Balchunas stated.
Balchunas speculated that SEC to finalize these requests before the holiday weekend. “Anything is possible, but this is our best guess for now,” she added.
Nate Geraci, President of ETF Store, noted that the update made sense given the minor nature of the SEC’s comments. This suggests that the substantial work is already finished, which leaves no reason for further delays.
Read more: How to buy Ethereum (ETH) in 2024?
This development suggests that Ethereum ETFs could launch sooner than SEC Chairman Gary Gensler indicated.
On June 13, during a Senate Appropriations Committee budget hearing, Gensler mentioned that Ethereum ETFs could receive approval during the summer, but did not specify a timeline for their debut in the trading.
These financial instruments will allow investors to trade funds that hold the second largest digital asset by market capitalization.
Stakeholders believe that This measure will improve market access to the crypto industry and drive institutional adoptionsimilar to the impact of Bitcoin ETF.
However, some stakeholders believe that Ethereum ETFs may not garner as much interest as Bitcoin ETFs due to the lack of staking. In any case, Geraci maintains that many underestimate the potential demand for these products.
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