According to U.Today, the approval of Ethereum Exchange-Traded Funds (ETFs) could be imminent, with industry experts predicting a possible approval date of July 2. The Securities and Exchange Commission (SEC) Chairman, Gary Gensler, recently hinted at the possibility of approving S-1 forms for spot exchange-traded funds on major altcoins 'sometime this summer.' The SEC has already initiated the process to permit the listing and trading of eight Ethereum ETFs by approving necessary rule changes. However, the S-1 registration forms, which provide detailed information about the products, are still required before they can be launched.
The SEC requested updated S-1 forms from issuers in late May, indicating that the approval process is ongoing. Eric Balchunas, a senior ETF analyst for Bloomberg, has projected that the regulator could approve these forms by July 2. He noted that SEC staff recently sent issuers minor comments on the forms and asked for responses within a week. Balchunas believes there is a high probability that the commission will finalize its decision before the Independence Day weekend, making July 2 a likely date for approval.
Nate Geraci, another ETF analyst, also views this as a positive development, suggesting that there is not much left to do before final approval. The potential approval of Ethereum ETFs could be a significant event for the cryptocurrency market as it could introduce new investment opportunities and promote further adoption of digital assets. As the SEC approaches its final decision, the crypto community is closely monitoring the situation, anticipating the impact on both institutional and retail investors.
