US Spot Ethereum ETFs Set to Launch on July 2
According to Bloomberg’s senior ETF analyst, Eric Balchunas, spot Ethereum exchange-traded funds (ETFs) are expected to launch on July 2. This prediction comes after a surge in amended S-1 filings from issuers. The U.S. Securities and Exchange Commission (SEC) recently approved 19b-4 filings for eight spot Ethereum ETFs. However, the SEC still needs to approve their S-1 filings before these ETFs can start trading.
Balchunas took to social media platform X to share his insights. He stated, “We will see a bunch of amended S-1s filed today, probably later this afternoon. Then the ball’s in the SEC’s court to let issuers know about any final changes and effectiveness (aka final approval).” Balchunas is sticking to his prediction of a July 2 launch date for Ethereum ETFs.
As anticipated by Balchunas, multiple spot Ethereum ETF issuers submitted their amended S-1 filings on Friday. The analyst noted that based on these submissions, the fees for spot Ethereum ETFs appear to be as low as or lower than those for spot Bitcoin ETFs.
Balchunas also mentioned that Blackrock, the world’s largest asset manager, has entered the market with a $10 million seed investment. Vaneck, Fidelity, Bitwise, 21shares, and Grayscale have also filed, but their fees have not been disclosed yet.
On May 23, the SEC approved eight spot Ethereum ETF 19b-4 filings. The notice states that NYSE Arca has received permission to list the Grayscale Ethereum Trust and the Bitwise Ethereum ETF. Nasdaq can list Blackrock’s Ishares Ethereum Trust, while BZX Exchange can list the Vaneck Ethereum Trust, the ARK 21shares Ethereum ETF, the Invesco Galaxy Ethereum ETF, the Fidelity Ethereum Fund, and the Franklin Ethereum ETF.
There is growing anticipation in the financial world as SEC Chairman Gary Gensler recently indicated during a congressional hearing that spot Ethereum ETFs are expected to launch this summer. Some members of the crypto community are hopeful that the SEC will also approve other crypto ETFs, such as Solana or XRP ETFs, in the future.
What are your thoughts on the launch of spot Ethereum ETFs in the U.S.? Do you think July 2 is a reasonable prediction? Let us know in the comments section below.
