ETF Expert Predicts Timeline for SEC Approval of Spot ETH ETF Registration Statements
BlackRock, Fidelity, Grayscale, ARKInvest, VanEck, Invesco Galaxy, and Franklin Templeton have all had their 19b-4 application forms for ETH ETFs approved by the U.S. SEC on May 23rd. Since then, there has been widespread speculation about when these ETFs will be listed and available for trading. While it took years for Bitcoin ETFs to be listed on the NYSE, experts believe that Ether ETFs will take less time.
Nate Geraci, President of ETF Store, believes that the SEC has already done the necessary groundwork by approving Spot Bitcoin ETFs and ETH futures ETFs. Although the exact timeline is uncertain, Geraci believes that listing ETH ETFs could happen within the “next few weeks” or “2-3 months at most”, depending on how long the SEC chooses to delay the process.
In a lighthearted manner, Eric Balchunas, a senior Bloomberg ETF analyst, suggested that the SEC could decide whether to list ETH ETFs before or after July 4th. This aligns with the idea that the SEC has already addressed most of the regulatory hurdles with the earlier Bitcoin ETF approvals, which could potentially bring positive news for American citizens to celebrate on Independence Day.
James Seyffart, another Bloomberg Intelligence expert, provided a clearer perspective during an interview on the Bankless HQ podcast. He stated that it is difficult to predict the exact approval date and mentioned that it could take weeks to months for the SEC to approve the S-1 forms required for trading. Seyffart pointed out that Bitcoin ETFs took three months to get approved after filing, suggesting that Ethereum ETFs may have a similar or even faster journey.
The anticipation of Ethereum ETFs has contributed to the bullish sentiment in the market. Ethereum’s price has risen to $3,932, a 3.4% increase in the last 24 hours and a 35% increase over the past two weeks. This rise can be attributed in part to positive comments about cryptocurrencies from former President Donald Trump, which have boosted confidence in the digital asset market.
Crypto market-making firm QCP Capital noted that today’s price action indicates that market participants are expressing their bullishness towards ETH rather than BTC, especially with the potential institutional demand once the ETH spot ETF starts trading.