Ethereum ETF Launch Date Confirmed: SEC Greenlights Trading for July 23
What Will Ether's Price Be?
Dear Readers,
The United States Securities and Exchange Commission (SEC) has reportedly granted preliminary approval to several asset managers for their spot Ether exchange-traded funds (ETFs). This news, sourced from industry insiders, Here are the key points:
Approval Status: BlackRock, Franklin Templeton, and VanEck are among the firms that received preliminary approval.
SEC Requirement: The approval is contingent on applicants submitting final offering documents by the end of this week.
Launch Timeline: If all conditions are met, these ETFs could start trading as early as next Tuesday.
Asset Managers in the Race
Several other prominent asset managers are also preparing to launch their spot Ether ETFs:
Other Applicants: Fidelity, ARK 21Shares, Grayscale, Bitwise, and Invesco Galaxy.
Simultaneous Launch: All eight spot Ether ETFs are expected to launch at the same time, similar to the previous spot Bitcoin ETFs.
Important Deadlines and Details
According to Bloomberg ETF analyst Eric Balchunas, issuers must submit their final S-1 filings by July 16, including the fees associated with their spot Ether ETFs. Balchunas expects the SEC to officially approve these S-1 filings next Monday, paving the way for trading to commence on Tuesday, July 23.
Industry Reactions and Speculations
Insights from industry experts and asset managers highlight the significance of this development:
Bitwise's Perspective: Bitwise’s chief compliance officer, Katherine Dowling, noted fewer issues in the latest S-1 filings, indicating a nearing launch.
Market Impact
If approved, the spot Ether ETFs will be listed on Nasdaq, the New York Stock Exchange, and the Chicago Board Options Exchange.
Bitwise’s chief investment officer, Matt Hougan, speculates that spot Ether ETFs could attract up to $15 billion in inflows within the first 18 months, mirroring the success of spot Bitcoin ETFs.
Currently, Ether is trading at $3,461, up 3.67% in the past 24 hours.
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