Spot Ether ETFs: When Will They Start Trading?
What Did SEC Chair Gensler Reveal About Ether ETFs?
Gary Gensler addressing Senate Banking Committee on June 13. Source: U.S. Senate
Analysts predicted that spot Ether (ETH) exchange-traded funds (ETFs) might start trading on U.S. exchanges by the end of June. However, the Securities and Exchange Commission (SEC) has not yet set an exact date.
SEC Chair Hints at Approval
During a June 13 Senate Banking Committee hearing on President Biden’s 2025 budget requests for the SEC, Chair Gary Gensler suggested that the regulator could approve spot Ether ETFs within the next three months.
Gensler anticipated the commission would approve the necessary S-1 registration statements for asset managers "sometime over the course of this summer." Although the SEC approved 19b-4 filings from eight companies on May 23, these applications still require S-1 approvals before trading can begin.
Senator Questions SEC's Delay
Tennessee Senator Bill Hagerty pressed Gensler on the SEC's delay in fully approving Ether ETFs, accusing the chair of not prioritizing a "constructive set of rules" for the crypto industry. Commodity Futures Trading Commission Chair Rostin Behnam reaffirmed that Ether is considered a commodity, while Gensler focused on the ongoing registration process for Ether ETFs.
Progress and Predictions
Gensler stated that the registration process for Ether ETFs was "working smoothly" and envisioned approvals this summer. Despite this, he cautioned in a June 5 interview that final approvals would "take some time."
Bloomberg ETF analyst Eric Balchunas initially suggested that Ether ETFs could launch in June, but later revised his prediction to July 4. ETF analyst James Seyffart expressed confidence that Ether ETFs would launch during the summer, despite the uncertainty.
Previous SEC Approvals for Bitcoin ETFs
On January 10, the SEC approved 19b-4 filings for spot Bitcoin (BTC) ETFs, which began trading the next day after the S-1 prospectuses were signed off.
Among the first to trade was BlackRock’s iShares Bitcoin Trust on the Nasdaq. The SEC has also approved 19b-4 filings from Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy, and Franklin Templeton. It remains unclear which company will be the first to launch Ether ETFs once the S-1 registration statements are approved.
Also Read
List of strong altcoins to stack before the bull run
Toncoin Gearing Up for Potential Breakout Aim For $11, But There is Catch
Ripple & Archax Partner Up! Millions in RWAs to Hit XRPL
Terra Luna Classic Price Plunges Post SEC’s $4.47 Billion Fine! Recovery on the Charts?
Ethereum Is Mirroring Bitcoin’s Price Action: Is This a Good News or Bad News?
MicroStrategy Announces $650M Note Redemption – Convert Now or Miss Out!
Binance Partners with Macao Police To Fight Crypto Crime
Ripple vs SEC is FINALLY Ending! Can XRP Escape the ‘Security’ Label?
Any Feedback?
Get in touch with us here