After months of anticipation, the launch of spot Ethereum ETFs in the United States appears to be imminent as the US 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 ETFs Hopefuls Gear Up For July 23 Debut
Bloomberg ETF expert Eric Balchunas took to social media on Monday to announce the SEC’s request for final Ethereum ETF filings, signaling a significant step forward in the approval process and a potential launch date of next Tuesday, July 23. Balchunas stated:
Update: Nate’s instincts were right, hearing SEC finally gotten back to issuers today, asking them to return FINAL S-1s on Wed (incl fees) and then request effectiveness on Monday after close for a TUESDAY 7/23 LAUNCH. This is provided no unforeseeable last min issues of course!
Bitcoinist reported last week that one of the Ethereum ETF applicants, Bitwise Investment, has been making changes to its S-1 filings smoothly, with “fewer and fewer issues” being encountered along the way, according to the firm’s CCO Katherine Dowling.
In late June, Reuters reported that sources close to certain applicants believed that Ethereum ETFs could potentially be approved by July 4. However, due to the need for additional review and finalization of applications, the expected launch date has been pushed to July 23.
ETH Price Jumps 7%
The news of the impending launch has already sparked enthusiasm among investors, leading to a significant surge in Ethereum’s price. On Monday, Ethereum experienced a 7% surge, surpassing the $3,430 mark for the first time in two weeks.
Additionally, trading volume for the token rose by 71%, showcasing the widespread interest and anticipation surrounding the introduction of Ethereum ETFs and the expected impact on its price for further upside continuation.
Featured image from DALL-E, chart from TradingView.com