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

sevval15/06/20241 Mins read313

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.

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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.

UPDATE: we are moving up our over/under date for the launch of spot Ether ETF to July 2nd, hearing the Staff sent issuers comments on S-1s today, and they're pretty light, nothing major, asking for them back in a week. Decent chance they work to declare them effective the next… https://t.co/XJZ8JLwEFF
— Eric Balchunas (@EricBalchunas) June 14, 2024

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

What are Ethereum Spot ETFs?

Ethereum Spot ETFs are exchange-traded funds that directly hold Ethereum (ETH), allowing investors to gain exposure to the cryptocurrency without having to own it directly.

When are Ethereum Spot ETFs expected to start trading?

Ethereum Spot ETFs are expected to begin trading on July 2nd, according to recent reports.

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

Ethereum spot ETFs

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sevval

Şevval has been actively writing since 2022 and is a third-year mathematics student at Ankara University. Her interest in writing is shaped particularly around innovative technologies such as Web3, artificial intelligence, and blockchain. She closely follows developments in these fields and aims to convey complex topics to readers in a clear and engaging manner. She enjoys combining her mathematical knowledge with technology to create content and strives to raise awareness about the digital world of the future.