Bloomberg ETF expert Eric Balchunas adjusted his expectations for Ethereum (ETH) spot ETF approval after following the latest developments from the SEC. He said on social media that due to the July 4 long weekend and the SEC staff's vacation, the approval is expected to be postponed until after the holiday, that is, after July 8. This prediction corrects his previous optimistic estimate that approval is expected before July 2.
Last month, Balchunas predicted that the ETF would be approved quickly based on the SEC's feedback on the S-1 documents of several financial giants. However, with the SEC's request for additional revisions to the documents, coupled with Chairman Gensler's public statement confirming that the approval is underway but the date is undetermined, market expectations have become more cautious.
Given the precedent of the successful approval of the Bitcoin (BTC) spot ETF, market expectations for the ETH ETF remain high, although the specific date still needs to wait for the SEC to complete the full disclosure review. At the same time, ETF applications for other crypto assets are also being actively prepared, such as the Solana (SOL) ETF, further highlighting the expansion potential of the crypto market.
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