Bloomberg ETF Analyst Eric Balchunas Predicts Spot Ether ETFs Could Trade Before 2/7

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Spot Ethereum exchange-traded funds (ETFs) holding actual cryptocurrencies are predicted to officially start trading in the United States before July 2, 2024, according to Eric Balchunas - ETF analyst at Bloomberg.

In a post on the X platform (formerly Twitter) on June 15, Balchunas stated this is his "best guess" for the launch timing of spot Ether ETFs, based on feedback from the U.S. Securities and Exchange Commission (SEC).

According to Balchunas, SEC staff provided comments on the ETF registration filings that were "pretty lightweight, nothing major" and asked for resubmissions within the week. This increases the likelihood that the SEC will declare the filings effective next week, allowing the ETFs to trade before the weekend break.

Previously, on May 23, the SEC approved 8 applications to list spot Ether ETFs on U.S. exchanges. However, the funds still need to receive approval for their mandatory S-1 registration statements before they can begin trading.

The anticipated approval is expected to bring numerous benefits to the cryptocurrency market, enhancing liquidity and institutional investor participation. However, some experts have also noted that the impact of Ether ETFs may not be as significant as the Bitcoin ETF launch in 2023.$ETH