SEC Chairman Gary Gensler recently announced at the Bloomberg Investment Summit that the process for approving Ethereum Spot ETFs is progressing well, attracting the attention of investors and cryptocurrency enthusiasts. Although the approval of the Ethereum ETF was successful, the exact launch date remains uncertain, according to Gensler. He mentioned that individual issuers are working through the registration process smoothly and predicted that the launch will take place in the summer, with only “disclosure and registration” remaining to be completed.
ETF analyst Eric Balchunas at Bloomberg echoed the prediction that US Spot Ether ETFs could be launched as early as July 2nd. He noted that the SEC approved 19b-4 filings for eight of these ETFs in the last month, with final approval of S-1 filings pending before ETFs can begin trading.
In terms of fees, Balchunas highlighted that the fees for Ethereum Spot ETFs appear to be as low as or even lower than those for Bitcoin Spot ETFs, with Blackrock and Vaneck announcing competitive rates.
This development marks a significant milestone for the cryptocurrency market, expanding investment possibilities and solidifying Ethereum’s position on the global financial scene. The SEC’s next steps will be crucial in determining the trading start date and subsequent market impact.
At the time of publication, the price of ETH was quoted at US$3,402.40 with a 4% increase in the last 24 hours.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.