As an experienced financial analyst with a background in the securities industry, I find Gary Gensler’s latest comments on the approval process of Ethereum ETFs encouraging. However, his uncertainty regarding the exact timing of these products’ launch is understandable given the intricacies involved in the regulatory approval process.
At the individual interview held at the Bloomberg Invest Summit in New York, the SEC Chair, Gary Gensler, reported a favorable progression in the review procedure for multiple Ethereum ETF proposals.
Gensler hasn’t specified an exact date for the commencement of trading for these financial products. He emphasized that asset managers must provide clear disclosures prior to their introduction in the market.
According to U.Today’s report, the head of the Securities and Exchange Commission (SEC) had earlier indicated that Ethereum exchange-traded funds (ETFs) would become available this summer.
Last week, a number of potential Ethereum ETF providers, including the giants like BlackRock, filed updated registration forms with the Securities and Exchange Commission (SEC). These forms contained details on the fees they would charge and their initial investments.
Today, I came across the news that VanEck submitted a significant step forward in their Ethereum ETF application process by filing a Form 8-A.
Expert Eric Balchunas of Bloomberg ETF forecasts that Ethereum ETF offerings may become available as early as July 2. His prediction is reinforced by the recent action taken by VanEck, suggesting a promising development in this regard.
The Securities and Exchange Commission (SEC) surprised the cryptocurrency sector with the unexpected filing of 19b-4 forms for Ethereum-based exchange-traded funds (ETFs) in May. Nonetheless, this was merely the initial move in a lengthy approval process. Presently, the SEC needs to endorse multiple S-1 registration applications if Ethereum ETFs are to become operational.
As a crypto investor, I’ve noticed that in late May, JPMorgan’s analysts predicted a more modest demand for spot Ethereum Exchange-Traded Funds (ETFs) compared to the record-breaking inflows we witnessed with Bitcoin ETFs earlier this year. They estimate these new Ethereum products will draw in around $3 billion in investments this year, which is a mere fraction of the impressive total inflows experienced by their Bitcoin counterparts.
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2024-06-25 22:57