Spot Ethereum ETFs Expected to Begin Trading by July 2

YEREVAN (CoinChapter.com) — Eric Balchunas, a Bloomberg ETF analyst, posted on June 15 that his “best guess as of now” is that spot Ether ETFs will start trading by July 2. He mentioned that the United States Securities and Exchange Commission’s (SEC) staff comments on the ETF applicants’ S-1 applications were “pretty light, nothing major,” and requested them back within the week.

Balchunas noted there’s a decent chance the SEC will declare the ETFs effective the next week, aiming to clear it before the holiday weekend. He added, “Anything is possible but this is our best guess as of now,” referring to the U.S. Independence Day on July 4.

Just a day before his prediction, Balchunas stated that Ether ETF applicants were still awaiting feedback from the Division of Corporation Finance, a division of the SEC overseeing firms’ disclosures. This uncertainty led him to reconsider his initial July 4 prediction.

SEC: Spot Ethereum ETFs May Trade by September

On May 23, the SEC approved eight 19b-4 filings to list spot Ethereum ETFs on various U.S. exchanges. However, these ETFs cannot start trading until they have the required S-1 registration statement approvals.

SEC Chair Gary Gensler provided a broader timeframe for the potential approval date. He indicated that spot Ether ETFs might begin trading within the next three months, by the end of September. He also noted that the speed of approvals would depend on how quickly issuers could address the SEC’s comments.

Ethereum ETFs Face Mixed Predictions Post-Approval

Some traders are optimistic that Ether’s price could mirror Bitcoin’s performance following its ETF approval. Bitcoin surged to record highs of $73,679 by March 13 after its ETF approval on Jan. 11.

However, Stephen Richardson, managing director of financial markets at Fireblocks, argued that spot Ether ETFs might not see the same day-one inflow as spot Bitcoin ETFs did. He stated,

“What’s missing is widespread consensus that effectively evaluates the utility or utilization rate of the Ethereum blockchain.”

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