Ethereum
Bloomberg Analyst Updates Spot Ether ETF Timeline
Bloomberg analyst Eric Balchunas has revised the estimated timeline for the launch of the highly anticipated Ethereum Spot ETFnow setting the plus/minus date as July 2.
This change comes after SEC staff’s latest remarks to issuers of S-1 filings, where the process is described as going well with only a few comments expected to be addressed within a week.
New timetable for the Ether ETF
As Balchunas said, the SEC has begun providing comments on S-1 filings made by issuers, indicating that the S-1 review process is being accelerated.
According to Balchunas, the new timeline was determined by new information from the SEC, where the regulator requested changes from ETF issuers. He observed,
“Good chance they’ll work to declare them effective next week and get them off their plate before the bank holiday weekend.”
This delay of just one day compared to the previously planned July 4 is a positive sign from analysts who had already prepared for possible pushbacks. The speed of execution and comments from the SEC demonstrate that it is prepared to approve the Ether ETF that investors and market analysts were impatiently awaiting.
SEC Chairman’s Spot Ethereum ETF Outlook
The move toward approval of Ether ETFs comes at a time when the legal framework surrounding cryptocurrencies is clearer. President of the SEC Gary Gensler estimated that approvals would occur “sometime this summer,” based on his testimony at the Senate Appropriations Committee hearing. Senator Bill Hagerty also commented on the timeline and thanked Gessler for estimating the process would be completed by “the end of summer.”
The launch of Ether ETFs is expected to provide institutional investors with a compliant way to invest in crypto assets, thereby increasing the chances of traditional investments in these assets. This follows the approval of similar projects Bitcoin-based ETFs which have already started to shape market trends.
These developments have been generally welcomed by the market, with traders and investors beginning to expect that these changes could affect Ethereum’s liquidity and its price.
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