As a seasoned crypto investor, I’m keeping a close eye on the developments surrounding the upcoming spot Ethereum ETFs. The S-1 amendments are expected to be submitted by Monday, July 8, and the big question on everyone’s mind is how quickly the SEC will process them. While the primary focus is on the fees associated with these ETFs, I’m confident that they will begin trading within the next two weeks, assuming SEC approval.
Moving into the second week of July, there is growing anticipation for the submission updates of Ethereum ETF proposals, with a target launch date set for July 15. In late June, the US Securities and Exchange Commission (SEC) requested that issuers revise their S-1 forms, with the expected revisions due by Monday, July 8. According to ETF Store President Nate Geraci.
Spot Ethereum ETF Amendments
As a crypto investor, I’m keeping a close eye on the SEC’s processing speed for the pending Bitcoin ETF amendments. According to Geraci, President of The ETF Store, the main point of concern is the fees connected with these potential ETFs. Already last week, Bitwise submitted their S-1 amendment. Major players like BlackRock, 21Shares, Fidelity, and Grayscale are expected to follow suit by Monday.
Spot eth ETF S-1 amendments supposedly due tomorrow…
How quickly will SEC turn these around?
Again, main item I’m watching for is fees (which won’t be required w/ these amendments).
Otherwise, assume issuers gearing up for launch in next week or two.
— Nate Geraci (@NateGeraci) July 7, 2024
He went on to mention that companies are making ready for a possible debut within the next two weeks, contingent upon SEC authorization. market experts anticipate that the inflows for the Ethereum ETF may reach approximately $15 billion during the following half-year post-launch.
The president of ETF Store, Nate Geraci, is firmly convinced that Ethereum spot ETFs will become available for trading within the next fortnight. It’s important to mention that the value of Ethereum has decreased by approximately 20% since the acceptance of the 19b-4 filings.
The Ethereum Price Corrects Further
Ethereum’s price dropped below the $3,000 mark last week, but bulls made an attempt to drive it above $3,100. However, their efforts were short-lived as the price could only hold this level momentarily. In the past 24 hours, there has been a further decline in Ethereum’s price, leading it to drop by nearly 6% and reach $2,871. The cryptocurrency’s market capitalization now stands below the $350 billion mark.
We’ll find out if the green light for Ether ETFs will lead to price increases or if the downtrend persists.
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2024-07-08 06:59