The US Securities and Exchange Commission (SEC) is expected to officially launch Spot Ethereum ETFs next week. Indeed, Bloomberg analyst Eric Balchunas reported that both the issuers and the agency expect the ETH product to begin trading on July 23rd.
In a post to X (formerly Twitter), Balchunas noted that the SEC had responded to issuers Tuesday. Moreover, they called for the final S-1 forms to be submitted Wednesday. Therefore, the agency is expecting a Tuesday, July 23rd launch, barring any last-minute obstacles.
Also Read: Ethereum ETF Approval: A Turning Point for The Crypto Market
Ethereum ETFs Set to Launch Next Week
At the start of the week, ETF expert Nate Geraci took to X to discuss the Ethereum ETF launch. The investment product is expected to have a massive impact on the crypto market. Subsequently, Geraci predicted that the industry was nearing ETH ETF approval week, citing a lack of any “good reason for any further delay at this point.”
According to Bloomberg reporter Eric Balchunas, Geraci’s instincts were on the money. Indeed, Balchunas took to the platform to share that both issuers and the SEC are expected Spot Ethereum ETFs to launch on July 23rd. The agency is currently seeking the final forms.
Also Read: Kraken Executive Says Ethereum ETF Launch Will ‘Lift all Boats’
An interesting note is the timing of the approval. The SEC is set to greenlight the launch of the ETH ETF during the biggest Bitcoin conference of the year. That week will prove to be a memorable one for all of crypto, as BTC and Ethereum represent the only two cryptocurrencies with an ETF in the US.
Now, all eyes are on what token could be next. There has been a lot of anticipation surrounding a possible Solana ETF in the near future. With its status in crypto, it does seem like the logical next choice to get the investment vehicle. It has clearly established itself alongside both Bitcoin and ETH as the market’s big three.