As a seasoned financial analyst with years of experience in the crypto market, I have closely followed the developments surrounding Ethereum ETFs and their potential launch in the United States. The latest news of the SEC’s request for final filings from Ethereum ETF issuers is undoubtedly an exciting turn of events.
After many months of eager waiting, it seems that the long-awaited introduction of Spot Ethereum Exchange-Traded Funds (ETFs) in the US is nearly here. Reports indicate that the US Securities and Exchange Commission (SEC) has asked Ethereum ETF applicants to submit their final S-1 filings, which include fee details, by July 17.
Ethereum ETFs Hopefuls Gear Up For July 23 Debut
Eric Balchunas, an expert at Bloomberg on Exchange-Traded Funds (ETFs), shared on social media on Monday that the SEC has asked for final filings for Ethereum ETFs. This development marks a crucial advancement in the approval process and could possibly mean a launch as early as next Tuesday, July 23. Balchunas expressed:
Nate’s intuition proved correct: The SEC has reached out to companies today, asking them to submit their final S-1 forms, including fees, by Wednesday. If all goes smoothly, the SEC will grant effectiveness on Monday following the company’s closing, leading to a Tuesday, July 23rd launch. However, this is contingent upon the absence of any unexpected last-minute complications.
Last week, Bitcoinist noted that Bitwise Investments, one of the Ethereum ETF hopefuls, has been efficiently modifying its S-1 submissions. According to Bitwise’s Chief Compliance Officer, Katherine Dowling, the process has been marked by a diminishing number of obstacles.
As a researcher, I’ve come across information suggesting that some Ethereum ETF applicants were optimistic about regulatory approval by early July. Specifically, Reuters reported this in late June. However, based on my current understanding, the actual launch date for these Ethereum ETFs has been revised to July 23 due to the necessity of further review and finalization processes.
ETH Price Jumps 7%
The announcement of Ethereum’s upcoming launch has ignited excitement among investors, causing a notable increase in its value. Specifically, on Monday, Ethereum saw a 7% climb and broke the $3,430 barrier for the first time in over two weeks.
The trading activity for the token increased by 71% as well, indicating a surge in investor excitement and expectation regarding the upcoming Ethereum ETFs. This development could potentially lead to additional price gains for Ethereum.
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2024-07-15 23:56