Ethereum enthusiasts, brace yourselves! According to Eric Balchunas, Bloomberg’s senior ETF analyst, the highly anticipated Ethereum exchange-traded funds (ETFs) are set to launch on July 23. The U.S. Securities and Exchange Commission (SEC) has requested that prospective issuers resubmit their final S-1 forms by Wednesday. This launch is strategically timed to coincide with the Bitcoin 2024 Conference, adding an extra layer of excitement.
While the crypto community is buzzing with anticipation, there remains a possibility of last-minute delays. Nate Geraci, president of the ETF Store, emphasized that he sees no valid reason for the SEC to postpone the launch further, suggesting that everything is ready to go.
Back in May, the SEC’s approval of 19b-4 filings for various spot Ethereum ETFs marked a significant turnaround. This move came as a surprise, considering the widespread expectations of rejection just days before the approval. However, there’s still uncertainty about how much demand these products will generate. JPMorgan has predicted that Ethereum ETFs may underperform compared to Bitcoin ETFs, while firms like Gemini are more optimistic, expecting moderate success.
Coinbase researchers have provided a balanced view, suggesting that the impact of Ethereum ETFs on the market could be either bullish or bearish, depending on the level of inflows. Despite these varying predictions, the launch of the first spot altcoin ETFs represents a historic milestone in the crypto world.
Meanwhile, VanEck and 21Shares have also filed applications for Solana ETFs, but analysts believe these are unlikely to receive approval this year.
The crypto landscape is on the verge of a potentially transformative period. Whether the Ethereum ETFs will live up to the hype or not, their launch signifies a pivotal moment for digital assets, possibly paving the way for more innovation and investment opportunities in the crypto space.
