As a researcher with a background in the crypto and ETF markets, I find Geraci’s optimism about the imminent approval of spot Ethereum ETF trading intriguing. Based on my analysis of the situation, I agree that it is likely that the SEC will conduct all due processes for its approval within the next two weeks. The recent return of the S-1 filings with only light comments from the regulator and the quick turnaround time for revisions suggest a streamlined process.
According to Nate Geraci, the president of ETFStore, there’s no compelling reason for a spot Ethereum ETF to postpone its trading debut beyond the next two weeks.
July 15 For Spot Ethereum ETF Trading?
Geraci is confident that the SEC will carry out all necessary procedures for granting approval to Ethereum spot ETF trading by the end of this week.
Will be *shocked* if spot eth ETFs not trading w/in next 2 weeks…
Later next week a possibility, but think week of July 15th more likely.
Interestingly, price of eth ↓ 20%+ since “surprise” 19b-4 approvals in late May.
— Nate Geraci (@NateGeraci) July 6, 2024
With an optimistic outlook, we anticipate the launch of the offering within the next week. In his recent post on X, Geraci expressed confidence that trading will commence around July 15. It’s important to mention that this same timeline for Ethereum ETF trading approval was previously shared by the expert in an earlier post.
Approximately two weeks ago, the U.S. Securities and Exchange Commission (SEC) rejected the preliminary filing submissions it received from prospective Ethereum Exchange-Traded Fund (ETF) providers such as BlackRock, Fidelity, 21Shares, Grayscale, Franklin Templeton, VanEck, iShares, and Invesco.
The regulatory document we received included mild criticisms in its responses to filers. Insiders involved in the situation predict that Ethereum ETF applicants will submit their S-1 forms with necessary adjustments by July 8th. Geraci mentioned that the previous round of S-1 modifications was relatively minor, and it’s anticipated that regulators will approve trading for these applicants within the following two to three weeks.
He explicitly mentioned that the amended Ethereum ETF application with the SEC is expected to be submitted in July, with a potential approval date around July 12. Consequently, it’s likely that trading of Ether ETFs will commence on July 15.
SEC Receives More Crypto ETFs Applications
The securities regulator’s ongoing discussions and engagement with Ethereum ETF applicants are often seen as a positive development, potentially indicating progress towards approval. This optimism has led other companies to follow suit and file their own applications.
A well-known ETF provider, YieldMax, has made an application to the US Securities and Exchange Commission (SEC) to launch a new ETF focusing on an Ether Option Income Strategy. The intention is to list this ETF on the New York Stock Exchange (NYSE) Arca, as outlined in a filing dated June 21, 2024. This innovative investment product aims to capitalize on the volatility of Ethereum Spot ETFs to generate profits for investors.
Hashdex, similar to other investment firms, has applied for the SEC’s approval to launch a Bitcoin–ETH Combination ETF. Upon receiving the application, the SEC announced public consultation on the proposed rule change. However, Hashdex might need to await the SEC’s decision regarding a standalone Ethereum ETF before their filing is evaluated.
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2024-07-07 19:48