Crypto expert attracted attention with his Ethereum comment.

Bloomberg analyst Eric Balchunas expects spot Ether (ETH) exchange-traded funds (ETFs) to begin trading in the US in July.

Balchunas updated his prediction for the start of spot Ether ETF transactions and stated his prediction as July 2. The crypto expert noted that U.S. Securities and Exchange Commission (SEC) staff sent comments to issuers on S-1 filings and detected them without major problems. . 

He said the SEC wants a response within a week, suggesting there's a good chance the ETFs will be declared valid next week, potentially before the "holiday weekend."

On June 13, SEC Chairman Gary Gensler provided some clarity about ETH ETFs during his testimony to Senator Bill Hagerty.

Gensler stated that he expects S-1 filings for spot Ethereum ETFs to be approved by the end of the summer.  This statement reinforced the belief that approval will likely occur within the next few months, although there may be some delays. Balchunas also noted that spot Ethereum ETF issuers are awaiting feedback from the SEC's Division of Corporate Finance (Corp Fin) on the S-1 filings they filed two weeks ago.

Explaining that this delay was due to Corp Fin reviewing these documents for the first time, he underlined that this unexpected situation was due to a possible last-minute political change within the SEC, which also surprised Corp Fin. Balchunas also emphasized that there is uncertainty about how quickly Corp Fin can prioritize and process applications. 

Some observers think that #Ethereum ETFs may not attract as much attention as #Bitcoin (BTC) ETFs because they do not offer staking services.