Ethereum
When will the SEC approve Spot ETH ETF registration statements? ETF Expert Predicts Timeline
On May 23, the US SEC approved eight ETF application forms 19b-4 from BlackRock, Fidelity, Grayscale, ARKInvest, VanEck, Invesco Galaxy and Franklin Templeton. Since then, speculation has grown over when ETH ETFs will be listed and made available for trading. While Bitcoin ETFs took years to finally be listed on the NYSE, ETF experts believe Ether ETFs will take less time.
“2-3 months maximum”
While Bitcoin futures ETFs were approved in October 2021, the SEC took more than two years to approve their listing on Nasdaq or the NYSE.
Nate Geraci, president of ETF Store, believes that although no one knows for sure, the SEC has already done the “heavy lifting” – that is, the groundwork of making a decision – while approving Spot Bitcoin ETFs and ETH Futures ETFs.
Lipper Alpha Insights states that on January 10, 2024, when the BTC ETFs were listed, the SEC also approved a rule change consecutively allowing exchanges to list the ETH ETFs in the future after the approval of Forms 19b-4 on May 23..
Therefore, according to that of Geraci Based on his personal opinions, he believes that the listing of ETH ETFs may happen in the “next few weeks” or “2-3 months maximum,” depending on how long the SEC wants to delay and stretch things out.
“July 4th, maybe?”
In a lighthearted spirit, Bloomberg ETF senior analyst Eric Balchunas posited that the SEC could decide whether ETH ETFs should be listed before or after The 4th of July.
This would support the belief that the SEC has already cleared most of the regulatory hurdles with prior approvals of Bitcoin ETFs, which are much more likely to give American citizens some good news to celebrate with Independence Day.
Less time expected than Bitcoin ETFs
Meanwhile, on Monday morning, James Seyffart, another Bloomberg Intelligence expert, offered a clearer answer and perspective during an interview on the Bankless HQ podcast.
Seyffart said: “I don’t think anyone knows exactly when this will be approved. »
He explained that it could take weeks or even months before the SEC approves the S-1 forms required for trading. He cited that Bitcoin ETFs take three months after filing to gain approval, adding that Ethereum ETFs could have a similar or even similar operation. fasterjourney.
Ethereum price now participates in crypto rally
Anticipation of Ethereum ETFs has contributed to the bullish sentiment pervading the market. Ethereum rose to $3,932, up 3.4% in the last 24 hours and 35% in the last fortnight. The rise is partly due to former President Donald Trump’s pro-crypto comments, which boosted confidence in the digital asset market.
Crypto market-making firm QCP Capital noted: “Based on today’s price action, it appears that market participants are expressing optimism towards ETH rather than BTC , especially with potential institutional demand once the ETH spot ETF begins trading. »