Bloomberg News: Ethereum spot ETF to officially launch on 7/23!

According to Bloomberg ETF analyst Eric Balchunas, the U.S. Securities and Exchange Commission (SEC) has finally responded to the issuer, requesting them to submit the final version of the S-1 form by Wednesday, and the Ethereum spot ETF could officially launch on Tuesday, July 23.

Update: Nate's instincts were right, hearing SEC finally gotten back to issuers today, asking them to return FINAL S-1s on Wed (incl fees) and then request effectiveness on Monday after close for a TUESDAY 7/23 LAUNCH. This is provided no unforeseeable last min issues of course! https://t.co/D21FD9Qf94

— Eric Balchunas (@EricBalchunas) July 15, 2024

Ethereum spot ETF to officially launch on 7/23!

The SEC officially approved the 19b-4 form for eight Ethereum spot ETFs as early as 5/23. However, for these products to start trading, the S-1 registration statement submitted by the issuers needed to be effective. Now, good news has finally emerged. According to a tweet from Bloomberg ETF analyst Eric Balchunas, the SEC has finally responded to the issuers, requesting them to submit the final version of the S-1 form (including fees) by Wednesday and to have it become effective after market close next Monday, with the official listing on 7/23. Balchunas believes that there won't be any unforeseen last-minute issues!

The table below summarizes information from various issuers. Except for ProShares, which submitted the 19b-4 form in June, the other eight are all ready to go and just need to update details such as the fee rate to have a chance at an official listing next week.

ETH Surges Nearly 7%

Encouraged by this news, Ether surged to a two-week high, reaching $3,461 before the deadline, with a 24-hour increase of nearly 7%. However, it is still 13% away from the high of $3,977 in May.