⚡️Ethereum ETFs could go live in July, analyst says.
Bloomberg analyst Eric Balchunas expects spot Ether ($ETH ) exchange-traded funds (ETFs) to begin trading in the U.S. in July.
Balchunas updated his forecast for the official launch of spot Ether ETFs, moving the over/under date to July 2.
The crypto expert noted that the U.S. Securities and Exchange Commission (SEC) staff had sent comments on the S-1 filings to issuers, describing them as “pretty light” without major issues.
He mentioned that the SEC has asked for responses within a week, suggesting a decent chance that the ETFs could be declared effective the following week, potentially before the “holiday weekend.”
Balchunas emphasized that while anything is possible, this is their best estimate at the moment.
On June 13, SEC Chairman Gary Gensler provided some clarity on ETH ETFs during his testimony to Senator Bill Hagerty.
Gensler indicated that he expects the S-1 filings for spot Ethereum ETFs to be approved by the end of the summer. This statement has reinforced the belief that while there may be some delays, approval will likely happen within the next few months.
Balchunas also mentioned that the issuers of spot #Ethereum ETFs were waiting for feedback from the SEC’s Division of Corporation Finance (Corp Fin) on their S-1 filings, which they had submitted two weeks earlier.
He explained that this delay was attributed to Corp Fin reviewing these documents for the first time, highlighting that this unexpected situation stemmed from a likely last-minute political shift within the SEC, which surprised Corp Fin as well.
Balchunas further emphasized that there is uncertainty about how quickly Corp Fin could prioritize and process the filings.
However, some observers believe Ethereum ETFs may not attract as much attention as Bitcoin ($BTC ) ETFs because they do not offer staking capabilities.