After months of anticipation, the launch of spot Ethereum ETFs in the United States appears imminent, as the U.S. Securities and Exchange Commission (SEC) has reportedly asked Ethereum ETF issuers to submit their latest S-1 filings, including fee structures, by Wednesday, July 17.
Ethereum ETF hopefuls gear up for July 23 debut
Bloomberg ETF expert Eric Balchunas took to social media Monday to announce SEC’s request for final Ethereum ETF filings, signaling significant progress in the approval process and a potential launch date of next Tuesday, July 23. Balchunas said:
Update: Nate’s instincts were right, he learned that the SEC finally responded to issuers today, asking them to return the final S-1s on Wednesday (fees included) and then request entry into effect Monday after the close for a LAUNCH TUESDAY 7/23. This is assuming there are no unforeseen last minute issues of course!
Bitcoinist reported Last week, one Ethereum ETF applicant, Bitwise Investment, smoothly rolled out changes to its S-1 filings, with “fewer and fewer issues” encountered along the way, according to the firm’s CCO, Katherine Dowling.
In late June, Reuters reported that sources close to some applicants believed Ethereum ETFs could potentially be approved by July 4. However, due to the need for additional review and finalization of applications, the planned launch date was pushed back to July 23.
ETH price increases by 7%
News of the upcoming launch has already sparked excitement among investors, leading to a significant rise in the price of Ethereum. On Monday, Ethereum saw a 7% increase, surpassing the $3,430 mark for the first time in two weeks.
Additionally, trading volume for the token increased by 71%, which speaks to the widespread interest and anticipation surrounding the introduction of Ethereum ETFs and the expected impact on its price for further upside.
Featured image of DALL-E, chart from TradingView.com
