There will be no ETH Spot ETF this week?
The initial expected time for the approval of the S-1 filing for the ETH Spot ETF was in the first week of July.
However, this week faces the July 4th holiday - Independence Day in the US.
=> The SEC has postponed the submission of the amended registration statement to 7/8, according to ETF expert Eric Balchunas (https://x.com/EricBalchunas).
=> The earliest we might get more information about the listing of the ETH ETF would be next week or the week after.
Some additional information:
🟢 Only the 19b-4 filings have deadlines (all of which have been approved); there is no deadline for approving the S-1 filings.
🟢 SEC Chairman previously said the ETH ETF is likely to be approved by the end of summer (https://thedefiant.io/news/markets/gensler-predicts-ethereum-etfs-approval-by-end-of-summer).
🟢 Gas fees on ETH are at a record low (usually signaling a bottom).
🟢 The price of ETH has dropped to $3k1 - the level before the rumors of the 19b-4 filings being approved (May 20).
🟢 The capital inflow into the ETH ETF is rated low.
Positive news gets delayed, negative news spreads widely, and the market is shaking out leveraged positions and short-term holders. Stay strong during this period, folks.
I'm still hanging in there because I buy put options regularly every week, so I'm still managing to salvage a bit.
