Ethereum ETF: Expected time to get the green light from the SEC

Bloomberg analyst predicts the potential time to launch an SEC-approved spot Ethereum ETF could take weeks to months.

Seyffart and colleague Eric Balchunas predict that at least VanEck's application will likely be approved on or before May 23, if the Securities and Exchange Commission (SEC) approves the funds.

S-1 approval is required for spot Ethereum ETFs to go live.

This approval process can take several weeks to several months to go through.

Predictions are that the SEC will likely approve at least VanEck's application on or before May 23 as this is the deadline for the Commission to decide.

Previously, the SEC was expected to reject these applications due to reports that they considered Ethereum a security.

The SEC has shown its willingness to approve these funds by asking Nasdaq, the Chicago Board Options Exchange (CBOE), and the New York Stock Exchange (NYSE) to update their filings.

Insiders say the SEC's response to these exchanges is a positive sign, suggesting that the regulator may be willing to approve these investment funds.

The SEC has indicated that it could approve both 19b-4 and S-1 filings simultaneously, as it did with spot Bitcoin ETFs, resulting in immediate go-live.

The difference now is that the SEC was in regular communication with issuers weeks before the Bitcoin ETF was approved

At the time of writing, Ethereum is trading around $3,700, up more than 3% in the past 24 hours, according to data from CoinMarketCap.