Spot Ethereum ETFs Likely to Launch by July 2: Analyst

• Spot ETH ETFs Approaching Approval: Minimal SEC feedback suggests potential U.S. trading of spot Ethereum ETFs by July 2, ahead of July 4.
• SEC’s Accelerated Timeline: The SEC’s rapid S-1 review for Ether ETFs contrasts with broader approval estimates extending to September.
• Ether ETF Inflow Uncertainty: Despite regulatory progress, experts like Stephen Richardson question if Ether ETFs will attract initial inflows like Bitcoin.

Bloomberg ETF analyst Eric Balchunas has projected that spot Ethereum (ETH) exchange-traded funds (ETFs) could begin trading in the United States by July 2. In a post on X on June 15, Balchunas stated that the United States Securities and Exchange Commission’s (SEC) feedback on the ETF applicants’ S-1 applications was minimal and requested their return within a week. This indicates a possible approval timeline before the U.S. Independence Day holiday on July 4.

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Balchunas’ prediction marks a change from the previous day when he suggested that applicants were still awaiting feedback from the SEC’s Division of Corporation Finance. He mentioned that there was a debate on whether to delay the July 4 prediction. The SEC had earlier approved eight 19b-4 filings on May 23 to list spot Ether ETFs on various U.S. exchanges. However, trading can only commence once the required S-1 registration statements receive approval.

SEC Chair Gary Gensler had previously indicated a broader timeframe for the launch, suggesting that spot Ether ETFs might start trading within the next three months, by the end of September. Gensler noted that the approval speed would depend on how quickly issuers could address comments from the SEC.

However, Stephen Richardson, the managing director of financial markets at Fireblocks, questioned the likelihood of spot Ether ETFs to reach the initial inflow record: spot Bitcoin ETFs. That is why he stressed that due to the versatility of the applications Ether has, it is more difficult to evaluate the worth of the currency. According to Richardson, the need to unite people and organizations to come up with a consensus on determining the effectiveness of the Ethereum blockchain was critical.

On the other hand, ASX has approved the first Philippines Spot Bitcoin ETF which is expected to open for trade on June 20. VanEck aims to launch its VanEck Bitcoin ETF (VBTC). This comes after the VanEck Bitcoin Trust (HODL) ETF received approval in the United States on the 11th of January. 

Speaking as the CEO for the Asia-Pacific Region at VanEck, Arian Neiron also pointed to the need for the exposition of Australian investors to Bitcoin through compliant and well-transparent products. Concerning how VBTC develops the accessibility of Bitcoin, Neiron pointed out the fact that VBTC takes away all the hassles that are associated with the procurement of Bitcoins as well as its storage for investment through the use of VBTC to secure digital assets.

It is the first approval of a spot Bitcoin ETF in ASX, even though Bitcoin ETFs have been launched in some parts of Australia within the last two years.

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