The cryptocurrency market has been buzzing with speculation about when exchange-traded funds (ETFs) for Ethereum will begin trading in the US. This comes after the US Securities and Exchange Commission (SEC) approved Forms 19b-4 for eight Ethereum ETF issuers on May 23.
To kickstart the product negotiations, the SEC must approve the S-1 forms for these Ethereum ETFs. Recently, BlackRock and VanEck have filed amended documents for their proposed spot Ethereum-based ETFs.
Bloomberg analyst Eric Balchunas commented on the update of the S-1 forms, considering it a positive development. He even predicted that the ETFs could launch by the end of June, but he had initially estimated a release date of July 4.
After the SEC approves the spot Ethereum ETFs’ 19b-4 filings, market observers have been speculating about when the SEC will grant final approval for the S-1 filings. Nate Geracci, a policy and market observer from ETF Store, predicted that the S-1 approval could happen within two to three months at most.
Geracci also expressed his expectation that the SEC could approve the S-1 filings in the coming weeks. However, he emphasized that the exact timing remains uncertain. He believes that the SEC has already done the majority of the work with the approval of spot BTC ETFs and Ethereum futures ETFs.
As of now, the price of Ethereum stands at $3,735.81, experiencing a 1.8% decrease in the last 24 hours.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and should not be taken as financial or investment advice. Investing or trading cryptocurrencies carries a risk of financial loss.