The wait for a spot Ethereum ETF in the US could be nearing its end. Issuers are expected to submit amended S-1 forms to the SEC by July 8th, addressing minor revisions requested by the commission. Industry experts like ETF Store President Nate Geraci are optimistic about a swift approval within the next two weeks, potentially paving the way for a launch by mid-July.
Focus on Fees and Potential Launch Timeline
The SEC’s primary area of scrutiny is likely to be the expense ratios, or fees, associated with these ETFs. This follows the approval of the 19b-4 forms in May, which cleared the first hurdle for spot Ethereum ETFs. With some issuers like Bitwise already filing their revised S-1s, others such as BlackRock, 21Shares, Fidelity, and Grayscale are expected to follow suit by Monday.
Geraci anticipates a potential launch within the next two weeks, contingent on SEC approval. Analysts predict significant investor interest, with estimates suggesting Ether ETF inflows could reach $15 billion within the first six months of launch.
Also Read: Ethereum Scarcity Alert: Exchange Balances Dive 50% Below Bitcoin
Ethereum Price Faces Headwinds
Despite the positive developments surrounding the ETF approval, the price of Ethereum (ETH) has experienced a significant correction. After briefly surpassing $3,100 last week, ETH has fallen over 20% since the 19b-4 approvals and currently sits around $2,871. This decline highlights the broader market sell-off impacting cryptocurrencies.
Eyes on the SEC and Potential Impact on ETH Price
The upcoming S-1 submissions and subsequent SEC review will be closely watched by investors. If approved, the launch of spot Ethereum ETFs could trigger a surge in investor interest, potentially leading to a price increase for ETH. However, if the SEC delays approval or raises unforeseen concerns, the current bearish sentiment might persist.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
About The Author
