The U.S. Securities and Exchange Commission (SEC) recently announced that it has approved spot Ethereum exchange-traded funds (ETFs).
The SEC announced that it approved 19b-4 applications from companies such as VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy and Bitwise. With this approval, these companies were allowed to issue Ethereum funds to be traded on US exchanges.
Uncertainty remains about when Ethereum ETFs will be listed. After the SEC approved Ethereum ETF applications, investors are wondering when the funds will start trading on US exchanges. It is estimated that ETH funds could be launched in mid-June if the financial regulator follows a similar process to Bitcoin ETFs.
While the commission's approval is limited to 19b-4 filings, companies must also file S-1 registration statements to be listed.
Speaking after the approval, Bloomberg ETF analyst James Seyffart stated that S-1 approvals could come within a few weeks, and shared that the process could take up to five months at best. Responding to Seyffart, another Bloomberg analyst, Eric Balchunas, stated that he thought mid-June was more likely, but emphasized that this was just an estimate.
While James Seyffart stated that he expects approximately 20 percent of the resources coming to Bitcoin ETFs to switch to Ethereum if spot Ether ETFs are launched, Balchunas's estimate is in the range of 10-15 percent.
Spot Bitcoin exchange-traded funds witnessed an inflow of $13.3 billion in the four and a half months it was launched. If 20 percent of this figure is directed to Ethereum, this would represent a flow of $2.66 billion.
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