According to BlockBeats, Bloomberg ETF analyst Eric Balchunas has indicated on social media that the approval of the Ethereum spot ETF is expected to be delayed until after the holidays. This comes after the SEC reportedly took additional time this week to respond to major ETF issuers, albeit with very minor adjustments. As per the current information, everything will have to wait until after the holiday on July 8th, when the approval process will resume and results will be available shortly thereafter.
Previously, Balchunas had suggested on social media that the Bloomberg analyst team had anticipated the launch date of the Ethereum spot ETF to be brought forward to July 2nd. However, the latest update suggests a delay in the approval process. The reasons for the delay have not been specified, but it is clear that the SEC is taking its time to review the applications from ETF issuers. The outcome of this process will be closely watched by the cryptocurrency community, as the approval of an Ethereum spot ETF could have significant implications for the broader crypto market.