Spot Ethereum ETFs Could Launch Early July, Says Bloomberg Analyst
Ethereum exchange-traded funds (ETFs) might start trading in the U.S. early July, according to Bloomberg ETF analyst Eric Balchunas.
Balchunas posted on June 15 that the SEC's feedback on spot Ether ETF applications was minimal, asking for revisions within a week. He suggested that the SEC might approve these ETFs before the July 4 holiday. "We are moving up our over/under date for the launch of spot Ether ETFs to July 2nd," Balchunas wrote on X. "The SEC's comments were light, nothing major. There's a decent chance they work to declare them effective next week to get it off their plate before the holiday weekend."
This marks a shift in confidence from the previous day when Balchunas noted that Ether ETF applicants were still awaiting feedback from the SEC’s Division of Corporation Finance.
On May 23, the SEC approved eight 19b-4 filings to list spot Ether ETFs on various U.S. exchanges. However, these ETFs cannot start trading until their S-1 registration statements receive necessary approvals.
SEC Chair Gary Gensler provided a broader timeframe, indicating that spot Ether ETFs might begin trading by the end of September. He mentioned that the speed of approvals would depend on how quickly issuers could address the SEC's comments.
While some traders hope Ether’s price will rise like Bitcoin did after the approval of spot Bitcoin ETFs, not everyone shares this optimism. When spot Bitcoin ETFs were approved on January 11, Bitcoin surged to a record high of $73,679 by March 13.
Stephen Richardson, managing director of financial markets at Fireblocks, argued on June 3 that spot Ether ETFs won't see the same day-one inflows as Bitcoin ETFs did. He pointed out that Ethereum's use cases are harder to value: "What’s missing is widespread consensus that effectively evaluates the utility or utilization rate of the Ethereum blockchain."
As the potential launch date approaches, investors and analysts are watching closely to see how the approval and trading of spot Ether ETFs will unfold.
