Bloomberg analyst Eric Balchunas has revised the estimated timeline for the launch of the highly anticipated spot Ethereum ETF. It has now set the earliest approval date for the altcoin as July 2. This change follows SEC staff’s recent comments to issuers filing S-1s; It was stated here that the process was going well and that there were only a few comments that needed to be addressed within a week.
The approval process for Altcoin ETF approval accelerated
An exciting development has come for the long-awaited launch of spot Ethereum ETFs. Bloomberg analyst Eric Balchunas pointed to July 2, one day before the previously estimated July 4 date, as the possible launch day. This change for the altcoin comes after recent statements from US Securities and Exchange Commission (SEC) officials, who signaled that they are stepping up the review process on ETF issuers’ S-1 form filings.
According to Balchunas’ statement, the SEC has begun providing feedback on issuers’ S-1 forms. This indicates that the approval process is accelerating. “Everything seems fine except for a few points that will most likely need to be addressed within a week,” the analyst said. “This could make it possible for ETFs to be approved next week and begin trading before the holiday weekend.” he said.
The fact that the launch date, which was previously predicted to be July 4, was brought forward one day is considered a positive development for analysts who are prepared for possible delays. The SEC’s rapid feedback shows that it is ready to approve Ether ETFs, which investors and market analysts have long awaited.
Ether ETF statement from SEC Chairman
This development regarding the approval of Ether ETFs comes at a time when the legal framework of cryptocurrencies is becoming clearer. In his testimony at a Senate Appropriations Committee hearing, SEC Chairman Gary Gensler predicted that approvals would “occur gradually over the summer.” Senator Bill Hagerty also commented on this timeline, thanking Gensler for his estimate of completing the process “by the end of the summer.”
The launch of Ether ETFs is expected to offer institutional investors a compliant investment path into crypto assets and drive the growth of traditional investments in these assets. This development follows a similar process that had previously begun to influence market trends with the approval of Bitcoin-based ETFs. The market welcomed these developments positively. Investors have begun to evaluate the possible effects on Ethereum’s liquidity and price. In the coming days, it is expected that precise information will come about the launch date and it will be clearer how the market will react to ETFs.
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