An exchange-traded fund (ETF) expert from Bloomberg says Ethereum (ETH) ETFs can be expected to hit the spot market in early July in the US.
In a new thread on social media platform X, senior ETF analyst Eric Balchunas says say ETH-based ETFs could be approved by July 2 after reports that the US Securities and Exchange Commission (SEC) responded to S-1 filings from several major financial companies.
According to Balchunas, returning the forms for changes implies that approval is close.
“We are moving our over/under date for the spot Ether ETF launch to July 2 after hearing staff send issuer comments on S-1s. [on Friday]and they are quite light, nothing major, and ask for them back in a week.
Good chance they’re working on declaring them effective next week and getting it off their plate sooner [the] holiday weekend. Anything is possible, but this is our best bet at the moment.”
The SEC approved 19b-4 filings from the companies earlier this year, including bids from BlackRock, Fidelity, VanEck, Grayscale, Bitwise, ARK, Franklin Templeton and Invesco Galaxy.
Balchunas notes that its original date for approval of ETH ETFs was July 4.
“Our previous over/under was on July 4, so this isn’t a huge change, but 1) we got the feeling it would take longer, so this is pretty good news and 2) we’ll basically decide the over/under on base of where the most torn. -50 on where to bet and July 2nd is that date at the moment.”
In May, former SEC Chairman Jay Clayton said the regulatory body’s approval of the company’s 19b-4 filings means approval of ETH ETFs is “inevitable.”
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