Bloomberg ETF analyst James Seyffart said he and his colleagues believe spot Ethereum ETFs could launch around July 15 if the application process is completed.
Seyffart posted the prediction on social media on July 3, but said he has “little confidence in launch date predictions at this time.”
The prediction is related to Bitwise’s change to its spot Ethereum ETF filing on July 3. Seyffart noted that the only significant change was adding a six-month fee waiver for the first $500 million in assets. Seyffart said:
“These changes were very minimal and [I don’t know] why the ETFs wouldn’t be ready to go in a few weeks.”
He added that there is no official timeline for approvals, and that the SEC’s Corporate Finance Division is “making the decision.” [its] time” at which each fund is approved.
“Literally nothing”
Bloomberg ETF analyst Eric Balchunas said the latest round of comments meant “literally nothing” and claimed the funds should have already started trading.
He added that the light comments also allowed Bitwise to amend its application earlier than the July 8 deadline that he and other applicants are expected to meet.
Balchunas said all indications point to a “launch.” [is] still for this month.”
Meanwhile, ETF Store President Nate Geraci believes applicants will submit another round of changes to add fees before the funds can start trading.
SEC issued stock exchange approvals in May
On May 23, the SEC approved rule changes 19b-4, allowing exchanges to list and trade the pending spot Ethereum ETFs. The agency must now approve S-1 registration statements to allow asset managers to issue the funds, but there is no deadline by which this must happen.
Balchunas said final approvals are assured, noting:
“Good news though [the SEC] approved [the 19-b4s]this is just logistics and issuers are at their mercy in terms of timeline.”
Balchunas previously predicted that Ethereum ETFs would launch before July 4, calling the prediction an “over/under” date. He extended the previous forecast in late June when the SEC asked filers to amend their S-1 registration statements by July 8.
Other applicants have supported a near future launch of the Ethereum ETFs. Galaxy Digital, which has an application pending with Invesco, expects the funds to be launched within weeks.
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Mike Dalton
Before switching to crypto writing in 2018, Mike studied library and information science. He currently resides on the west coast of Canada.
Assad Jafri
A passionate journalist since Yemen’s Arab Spring in 2011, AJ has honed his skills globally for more than a decade. Specialized in financial journalism, he now focuses on crypto reporting.