The U.S. SEC might approve spot Ethereum ETFs by July 4 if ongoing discussions with investment firms are successfully concluded. This potential approval comes on the heels of the successful launch of spot Bitcoin ETFs in January, which followed years of regulatory negotiations.
Investment Firms Await SEC Nod
Leading investment firms such as BlackRock and Grayscale are poised for the SEC’s green light to introduce Ether ETFs. This anticipated approval comes after a lengthy regulatory process, which saw the SEC approving 19b-4 filings from eight ETF applicants on May 23. Grayscale, in particular, is eager to convert its existing Ethereum Trust into an ETF, a significant step forward for the company.
Despite these advancements, asset managers are still in the process of finalizing their Form S-1s, which require SEC approval before trading can commence. Companies like Bitwise and Fidelity have already revised and resubmitted their applications, indicating their readiness to launch these new financial products.
Spot Ethereum ETFs Likely to Debut Before Independence Day
According to Reuters, unnamed executives from two investment firms have confirmed that the finalization of the paperwork for the new ETFs is nearing completion. Only a few minor details remain to be addressed before the launch can proceed.
A lawyer involved with one of the issuers expressed confidence, stating that the firm is close to the “finishing touches” and expects final approval within the next week or two. This sentiment was echoed by Bloomberg ETF analyst James Seyffart, who suggested that spot Ether ETFs might launch before July 4.
Ether ETFs Approval Process ‘Going Smoothly,’ Gensler Says
SEC Chair Gary Gensler has been cautiously optimistic about the progress. Speaking at a Bloomberg conference on June 25, he mentioned that the approval process is “going smoothly” and highlighted the importance of full disclosure in registration statements.
“What is in front of us — and it’s done at a staff level — is what’s called the registration statements, the disclosure statements,” Gensler explained. “Again, these disclosures are really important. They’re important to investors making investment decisions.”