Author: Helene Braun, CoinDesk; Translated by: Wuzhu, Golden Finance
According to sources, the U.S. Securities and Exchange Commission informed the issuer of the ETH exchange-traded fund that the fund can begin trading on July 23.
The SEC had no further comment on the recently filed S-1, the final version of which needs to be filed by Wednesday.
ETH outperformed BTC on Monday, influenced by the news of ETF trading approval.
The U.S. Securities and Exchange Commission (SEC) on Monday informed potential issuers of spot Ethereum (ETH) exchange-traded funds (ETFs) that they will begin trading next Tuesday, two people familiar with the matter told CoinDesk.
SEC officials told one issuer that the regulator had no further comments on the recently filed S-1 and that the final version needed to be submitted by Wednesday, one of the sources said, adding that the funds would then be listed on the exchanges on Tuesday, July 23.
Another source said trading could begin on Tuesday after the ETF is deemed effective on Monday.
Bloomberg Intelligence senior ETF analyst Eric Balchunas first reported the development in a social media post.
Issuers filed amended S-1 filings last week but have yet to disclose some details, including how much they will charge investors in management fees. So far, only a few issuers, such as VanEck and Invesco Galaxy, have disclosed their fees.
Cryptocurrency exchange Gemini predicts that a spot Ethereum ETF could see inflows of up to $5 billion in the first six months once it goes public. Steno Research said it expects inflows of up to $20 billion in the first year.
Ethereum prices rose as much as 7.3% on Monday, outpacing bitcoin’s 6% gain, as the ETF began trading next week. The broader CoinDesk 20 index rose 5.6% today.
