After months of anticipation, the launch of ethereum spot ETFs in the United States appears to be imminent, as the U.S. Securities and Exchange Commission (SEC) has reportedly requested that ethereum ETF issuers submit their final 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 on Monday to… x.com/EricBalchunas/status/1812930206933655759″ target=”_blank” rel=”noopener nofollow”>announce The SEC application for the final filing of the ethereum ETF, indicating significant progress in the approval process and a possible launch date for next Tuesday, July 23. Balchunas stated:
Update: Nate was correct in learning that the SEC finally reached out to issuers today asking them to return FINAL S-1s on Wednesday (including fees) and then file for effective on Monday after the close for a TUESDAY, JULY 23RD LAUNCH. This is of course provided there are no last minute unforeseen issues!
Bitcoinist reported Over the past week, one of the ethereum ETF applicants, Bitwise Investment, has been making changes to its S-1 filings without issue and has encountered “fewer and fewer problems” along the way, according to the firm’s CCO Katherine Dowling.
In late June, Reuters reported that sources close to certain applicants believed ethereum ETFs could be approved by July 4. However, due to the need for additional review and finalization of applications, the planned launch date has been pushed back to July 23.
eth price rises by 7%
The news of the impending launch has already sparked excitement among investors, leading to a significant surge in the price of ethereum. On Monday, ethereum saw a 7% surge, breaking above the $3,430 mark for the first time in two weeks.
Furthermore, the token’s trading volume increased by 71%, demonstrating the widespread interest and anticipation surrounding the introduction of ethereum ETFs and the expected impact on its price for further bullish continuation.
Featured image of DALL-E, chart from TradingView.com
