HomeEthereumEthereum Spot ETFs Expected to Begin Trading by July 23, Pending No...

Ethereum Spot ETFs Expected to Begin Trading by July 23, Pending No Unexpected Last-Minute Issues

-


SEC Provisionally Sanctions Three Ethereum-Based ETFs, Trading Could Begin July 23

The SEC has provisionally sanctioned at least three Ethereum-based exchange-traded funds, with trading set to begin as early as July 23. This development comes after the successful launch of U.S. spot Bitcoin ETFs in January, marking another major win for the cryptocurrency industry’s push to mainstream digital assets.

According to a Reuters report, industry sources revealed that the approval of the ETFs hinges on the applicants submitting final offering documents to regulators by the end of this week. Among the eight asset managers whose applications are likely to be approved are BlackRock, VanEck, and Franklin Templeton. Trading in the products is expected to begin the next day.

Bloomberg ETF analyst Eric Balchunas also confirmed the news, stating that the SEC has asked applicants to submit final S-1 documents, including fee information, by Wednesday this week. He anticipates a July 23 launch, provided no unforeseeable last-minute issues occur.

Gemini, a cryptocurrency exchange, anticipates a bright future for Ethereum with the imminent launch of spot ETFs in the United States. Their research report suggests a surge of investor interest, estimating net inflows of up to $5 billion within the first six months of trading. This influx of capital could push Ethereum’s value in U.S.-based spot ETFs to $13-$15 billion by the end of the year.

At the time of writing, Ethereum was trading at $3,473.37, following a 5.95% spike in the last 24 hours. This news is sure to have a significant impact on the cryptocurrency market and the broader financial industry as a whole.

LATEST POSTS

Solana Surpasses Ethereum in Important Metric

Top Solana-based DEXes Lead in Daily Trading Volume, Surpassing Ethereum Solana-based decentralized exchanges (DEXes) are making waves in the cryptocurrency market, with five of them...

Investors May Need to Pay Taxes in Bitcoin Sooner Than Expected

Crypto Payments for Taxes: A Closer Look at the Potential Changes Ahead The possibility of paying taxes with cryptocurrency, specifically bitcoin, is gaining traction in...

Pepe Unchained: Layer 2 Blockchain Drives Meme Coin Surge Through Successful Presale

Pepe Unchained: Revolutionizing the Meme Coin Market with Layer 2 Blockchain Technology The Pepe meme is back in the spotlight with the launch of Pepe...

SEC files lawsuit against Binance staking, BNB price rises despite legal challenges

Federal Judge Allows Majority of SEC Lawsuit Against Binance to Proceed In a recent court ruling, Judge Amy Berman Jackson of the District Court for...

Most Popular