Reuters reports that the US SEC will approve the start of trading in spot Ethereum ETFs by July 4th. Industry executives and other participants told the agency that negotiations between asset managers and regulators are entering the final stages.
That is, the forecast of#Bloombergsenior ETF analyst Eric Balchunas about the launch of the instrument on July 2 is fully valid.
Executives at the two firms, who asked to remain anonymous due to the confidential nature of the discussions, told Reuters the process to amend the offering documents had progressed to resolving only "minor" issues. These documents must be approved before the ETF is launched.
A lawyer working with one of the issuers, who also wished to remain anonymous, said the matter had reached the "finishing touches" and that approval was "probably a week or two away."
The SEC declined to comment. In an interview with#Reutersearlier this month, SEC Chairman Gary Gensler said the launch date depends in part on how quickly issuers respond to the regulator's requests.
And in a more recent interview with#Bloomberg(released late yesterday), Gensler said that the process of launching the Ethereum ETF is “going smoothly.” However, he did not say when regulators would be able to complete their review of documents and give final approval to companies such as #VanEck, #ARKInvest,#BlackRockand #Fidelity.
