On June 25, investment manager VanEck filed an application for an Ethereum ETF with the US SEC, bringing trading closer to reality. 👀

Bloomberg analyst Eric Balchunas suggests that ETF trading on Ethereum could begin as early as July 2, 2024. However, SEC Chairman Gary Gensler expressed the opposite opinion, arguing that the process could take months.

Surprisingly, the approval of Ethereum ETFs was unexpected and most likely due to political factors of the current administration. Ahead of the 2024 elections, cryptocurrencies have become more prominent as presidential candidates try to attract cryptocurrency supporters.