Crypto News Today- Ethereum Spot ETFs Set to Trade Starting July 2nd

Crypto News Today- Trading for Ethereum Spot ETFs Could Commence as Early as July 2nd

Crypto News– Spot Ethereum (ETH) exchange-traded funds (ETFs) may potentially start trading in the United States as early as July 2, as reported by Bloomberg ETF analyst Eric Balchunas.

In a June 15 post on X, Balchunas mentioned that the U.S. Securities and Exchange Commission (SEC) had provided relatively light comments on the ETF applicants’ S-1 applications and requested them back within the week.

Balchunas expressed optimism, stating, Decent chance they work to declare them effective the next week and get it off their plate before the holiday weekend. Anything is possible but this is our best guess as of now, in reference to the upcoming U.S. Independence Day holiday on July 4.

This statement marks a shift in sentiment from previous uncertainty, where Balchunas had indicated that Ether ETF applicants were awaiting feedback from the SEC’s Division of Corporation Finance and was considering revising his prediction for July 4.

SEC Chair Gary Gensler expanded the timeline for potential approval dates

SEC Chair Gary Gensler recently extended the potential timeline for the commencement of trading in spot Ether ETFs, suggesting it could occur within the next three months, by the end of September.

Just a week prior, Gensler had indicated that the pace of Ether ETF approvals would hinge on how swiftly issuers could address feedback from the SEC.

While there is optimism among some traders who speculate that Ether’s price might follow a trajectory similar to Bitcoin’s price surge following ETF approval on January 11, peaking at $73,679 by March 13, not all investors share the same level of confidence.

FAQs

For the latest in crypto updates, keep tabs on Crypto Data Space.