I’d be ‘shocked’ if Ethereum ETFs aren’t trading soon, says expert — here’s when to expect an SEC nod

The crypto industry’s high hopes for the launch of spot Ethereum exchange-traded funds this week are fading.

While some experts went into the Independence Day weekend with the prediction that the ETFs could start to trade as early as this week, ETF Store president Nate Geraci says it’s more likely that the launch will happen the week of July 15.

He said he would be shocked if spot ETH ETFs don’t launch within the next two weeks.

The delay is a minor setback after market watchers had already pushed back their launch estimates from the week of July 4 to after July 8.

The timing of when the Securities and Exchange Commission green lights the next batch of ETFs is crucial.

When the SEC approved 11 spot Bitcoin ETFs in January, it triggered a market rally that saw Bitcoin surge to record heights.

If spot Ethereum ETFs can replicate that success, it could jolt cryptocurrencies out of last week’s nosedive that wiped almost 20% off the sector’s total value, according to CoinGecko.

Experts estimate investors will pour up to $500 million and $15 billion into the new funds in the first week and first 18 months, respectively.

Yet, pundits keep pushing their estimated launch date forward as the regulator repeatedly asks applicants like Blackrock and Fidelity to amend their applications.

“No one really knows why the SEC is taking their sweet time with these, given how light comments were, these could have easily been trading by now,” Erich Balchunas, analyst at Bloomberg Intelligence, tweeted.

“Could be one ‘problem’ issuer slowing down process or just summertime lazy or people on vacation. Not sure.”

He added that all indications suggest the launch will still happen this month.

Crypto market movers

• Bitcoin is down 0.2% over the last 24 hours to about $56,809.
• Ethereum is up 1.5% over the same timeframe to about $3,012.

What we’re reading

• Will Bitcoin bounce back? Here’s where five experts see the price heading next — DL News.
• ‘Crypto Funds See $441M Inflows As Mt. Gox Bitcoin Pressure Eases — Milk Road.
• $1 Million Bounty On Offer for Finding Bugs On Solana Validator Client Firedancer — Unchained.
• Golem Moves 36,000 Ethereum To Binance And Coinbase Amidst Market Uncertainty — Milk Road.
• Standard Chartered’s crypto desk and Zodia Markets can co-exist, says CEO — will traders get it? — DL News.

Eric Johansson is DL News’ News Editor. Got a tip? Email a eric@dlnews.com.