ETFs
Countdown to launch: Spot Ethereum ETFs could debut this Friday
Ethereum Cash (ETH-USD) ETFs could be listed as early as this Friday. With all eyes on the SEC, anticipation is growing for what could be a major milestone in cryptocurrency investing.
The race for approval
There’s a mad rush to get these spot Ethereum ETFs approved and listed. Last week, several issuers filed their amended S-1 forms, a crucial step in the process. Notably, these filings did not include information on fees, meaning there’s still some back-and-forth to be expected with the SEC.
According to CoinDesk, Invesco and Galaxy have already set their fees at 0.25%, while VanEck got ahead of the curve by publishing its fee structure earlier. This indicates that progress is being made, but there are still some adjustments to be made before the final green light.
Timing is everything
Unlike 19b-4 filings for Bitcoin Spot ETFs Approved in MayThere is no hard deadline for the SEC to make a final decision on Ether ETFs. This means we are looking at a fluid timeline that could see approvals arrive by the end of this week or in the coming weeks.
Nate Geraci, president of the ETF Store, expressed optimism about X, suggesting that the week of July 15 is a likely time for these listings. Geraci’s thoughts are supported by the recent flurry of activity and the SEC’s history of quick turnaround times once all requirements are met.
On the verge of approval
If the SEC issues its opinion by the end of the day Tuesday, issuers could file their final amendments by Wednesday. Historically, the SEC has taken about two days to issue final approvals after receiving the necessary documents. That timeline fits with the possibility of spot Ethereum ETFs starting trading by Friday, assuming all goes well.
Impact on Ethereum price
The listing of Ether spot ETFs could impact the price of ETH. As noted by Nate Geraci, the approval and subsequent trading of these ETFs will provide investors with a more accessible and regulated way to gain exposure to Ethereum. This increased demand could drive the price of ETH higher. Historically, similar events with Bitcoin ETFs have led to a surge in Bitcoin prices, and many analysts believe that Ethereum will follow a similar trend. The anticipation alone has already driven increased interest and activity in the market.
At the time of writing this article, Ethereum is at $3,085.
A new era for investors
The launch of the spot ether ETFs will pave the way for more regulated investments in Ethereum, the second-largest cryptocurrency by market capitalization. This development is not only a win for institutional investors, but also for the average investor looking for a safer way to gain exposure to Ethereum.
As we count down the days, it’s clear that the launch of spot ether ETFs is closer than ever. Whether it’s this Friday or in a few weeks, the crypto community is on the edge of its seat, ready for the next big leap.
For now, we wait and watch, as the SEC’s final decision could be made any day now. And when it does, the world of cryptocurrency investing will never be the same again.