Bloomberg Analysts Advance Ether ETF Planned Launch to July 2

Bloomberg ETF analysts are moving up the planned launch date of their Spot Ether ETF to July 2, according to analyst Eric Balchunas. Following reports that SEC staff have given S-1 responses to ETF issuers, Balchunas does not expect approval to face significant delays.

According to Balchunas, the SEC’s comments on the S-1s are “fairly light” and “nothing major.” The analyst says the SEC is requesting that revisions to Form S-1 be returned within a week. Additionally, the ETF analyst says there’s a “good chance they’ll work to declare them effective next week.” The SEC could finalize approvals before the Independence Day holiday weekend, but “anything is possible.”

This is a much faster wait than SEC Chairman Gary Gensler recently predicted. Earlier this week, Gensler said the regulator is expected to fully approve Spot Ether ETFs by September. The first round of Spot Ethereum ETF approvals took place in late May 2024. The ETH ETF approvals came as a surprise to the digital asset market as a whole. The SEC has long resisted approving the crypto-based exchange product, despite the success of a Spot Bitcoin ETF following its approval in January.

Also Read: Bitcoin’s Chances of Reaching $200,000 More Likely: Samson Mow

What else do Ether ETFs need from the SEC before launch?

Source: Ethereum World News

Once Ethereum ETF Forms 19b-4 are approved, issuers must wait for their Forms S-1 to be approved before they can begin trading the assets. These forms are necessary to publicly propose new titles. With the latest development of the S-1s under review, the July 2 over/underestimation is indeed possible. To further fuel this potential, the SEC committed to a quick 180 pivot in May when it changed its mind on the initial adoption of Ether ETFs. Indeed, after Gensler’s statement, this could happen again, indicating a quicker shift to ETFs this summer.

After the full approval and launch of Ethereum ETFs, Ether is expected to boom dramatically, just like Bitcoin. At press time, Ethereum is trading above $3,500. With the approval of the ETF, the second-largest crypto asset by market capitalization could reach all-time highs. Some price predictions predict the asset will hit between $5,000 and $10,000 this summer.

Fuente