Spot Ethereum ETF Launch Set For Tuesday

Bloomberg's ETF analyst, James Seyffart, has provided new information regarding the expected timetable for the launch of spot Ethereum exchange-traded

Bloomberg ETF analyst James Seyffart has provided fresh updates on the expected timeline for the launch of spot Ethereum exchange-traded funds (ETFs) in the United States, amid growing anticipation and regulatory processes, according to Coingape. Spot Ethereum ETF Launch Set For Tuesday The final approval for spot Ethereum exchange-traded funds (ETFs) could be granted as early as next week, according to hints from the U.S. Securities and Exchange Commission (SEC). A new note from Bloomberg’s Eric Balchunas shows that the issuers have been asked to file their final S-1 registration statements, including the fees for them, by Wednesday and have the statement effective the following Monday. This preparation, in turn, is for a launch on Tuesday, July 23, amid key cryptocurrency events like The Bitcoin Conference in Nashville, which is set to see an appearance from Donald Trump. The timing makes sense for a launch, considering it is intentional and designed to coincide with increasing interest from the public. The Securities and Exchange Commission is also said to have requested updates on the relevant 19b-4 forms, which are necessary for listing the new ETFs on exchanges. These forms are crucial for rolling out exchange-traded funds, given the regulator’s usual review cycle, which has seen several adjustments and extensions of late. Despite some earlier setbacks, the market optimism is still high for the upcoming decision, also thanks to favorable political shifts and increasing institutional interest in crypto. Ethereum (ETH) Price The price of Ethereum rose over 7% following the news and is currently trading at $3,433 at press time, with the cryptocurrency asset certainly seeing some market euphoria over the Ethereum ETFs. According to CoinMarketCap, ETH price rose 14% in the last week and 77% over the last year. Many are now expecting these ETFs to be approved soon, and if accepted, they are expected to attract a large capital flow. Furthermore, analyst Michael Van de Poppe has suggested that Ethereum might even outpace Bitcoin in the market thanks to the new ETFs. The demand for regulated cryptocurrency investment products is evident in the fact that financial advisors and institutional investors are showing continuous interest in them. It is estimated that these ETFs could attract between 0.75% and 1% of Ethereum’s circulating supply in new investments within the first five months of their operation, highlighting the potential for a large market uptake.

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