Bloomberg Analyst: Ethereum Spot ETF May Launch in Early July

Bloomberg ETF analyst Eric Balchunas has moved up the launch date of the Ethereum spot ETF to July 2nd, as the issuer has received feedback from the SEC indicating that everything is in progress!

UPDATE: we are moving up our over/under date for the launch of spot Ether ETF to July 2nd, hearing the Staff sent issuers comments on S-1s today, and they're pretty light, nothing major, asking for them back in a week. Decent chance they work to declare them effective the next… https://t.co/XJZ8JLwEFF

— Eric Balchunas (@EricBalchunas) June 14, 2024

SEC Comments Released, Approval Likely in Early July

Bloomberg has moved up the launch date for an Ethereum spot ETF to July 2nd, as the U.S. Securities and Exchange Commission (SEC) staff has sent comments on the S-1 application to the issuer, and these comments are minor, with the SEC requesting the issuer to make revisions promptly.

Balchunas believes that the SEC may announce the effectiveness of the S-1 approval as early as next week, and once the S-1 is approved, ETFs typically list the next day. Therefore, Bloomberg has advanced the listing date for the Ethereum spot ETF to July 2nd.

ETH Slightly Up, Still Below $3,500

Following Balchunas' comments, Ether rose slightly from yesterday's low of $3,362, briefly surpassing $3,500, and was trading at $3,478 at the time of writing.

In the absence of catalysts in the recent market, Bitcoin and Ether have not continued to hit new highs alongside the stock market, instead showing signs of weakness.