There has been speculation about whether there will be a liftoff concerning spot Ethereum ETFs. One thing Eric Balchunas, a senior analyst on exchange-traded funds at Bloomberg Television noticed missing is fidelity’s filing.
Spot Ethereum ETF Approval Anticipated Soon
The approval of spot Ethereum ETF trading is something the crypto community eagerly awaits to happen soonest. Based on recent happenings, many predict that it will be approved within the next three weeks or on July 2. This is after the ConsenSys vs SEC probe resolution that shocked many people.
Out of the blue, the Commission has suddenly decided to push aside the Ethereum 2.0 probe that has been on the cards for the last fourteen months. This is a precedent for clarity of regulation on Ethereum, and at the same time a mark of a gigantic step for the whole cryptocurrency industry.
Also Read: https://readingcrypto.com/sec-finally-gives-ethereum-etf-approval/
Submit Amendments & More
Applicants are also committed to submitting their S-1 amendments. Bitwise, BlackRock, as well as Fidelity, have each submitted their respective amendments, leaving the “ball” in the court of the SEC.
There are also some of Gary Gensler SEC Chair‘s public statements which have had an impact on the approval timeline for Ethereum ETFs. He had stated one time that the approval of such products should happen “over the course of this summer”. According to Bitwise CEO Hunter Horsley spot Ethereum ETF trading is expected to launch before 4th July.
Stay tuned at ReadingCrypto for more quick updates!
