Nate Geraci, President of The ETF Store, has predicted the launch of spot Ethereum ETFs in the United States on July 15. According to Geraci, the US Securities and Exchange Commission (SEC) will require time to review and subsequently approve the necessary documents. Representatives of the issuers believe the regulator might make a decision by July 4.
Wen spot eth ETF?
BBG sticking w/ mid-July.
Amended S-1s due July 8th.
Potential final S-1s by July 12th.
Would theoretically mean launch week of July 15th.
via @emily_graffeo @olgakharif pic.twitter.com/NG8xhtCP21— Nate Geraci (@NateGeraci) July 3, 2024
The final decision regarding the approval of spot Ethereum ETFs in the US is expected to be made in the coming weeks. Geraci noted that by July 8, 2024, issuers will have made amendments to their S-1 forms, which are crucial for the approval of this product. After a second review, the SEC is expected to deliver its verdict. Geraci added that the regulator might need a few days to make a final decision, suggesting that the final S-1 forms could be approved by July 12. This implies that Ethereum-based ETFs could be launched on July 15.
In late June, the SEC returned the potential issuers' S-1 forms with requests for amendments. The deadline for these changes was set for July 8. Submitting S-1 forms is part of the process of launching cryptocurrency ETFs. In the first stage of review, the SEC approved the issuers' 19b-4 forms before the key deadline in May 2024.
SEC Chairman Gary Gensler mentioned that the process of launching Ethereum ETFs is "proceeding smoothly." He anticipates that Ethereum-based exchange-traded funds will be approved by September 2024. However, company executives believe that the product will be launched earlier. They claim that negotiations are nearing completion, with documents expected to be approved by July 4.
Meanwhile, the Gemini exchange predicted a net capital inflow of $5 billion into spot Ethereum ETFs within the first six months of trading. This could lead to a significant increase in the asset's value.
