Ethereum
Here’s When Ethereum ETFs Will Launch
Alex Dovbnia
Ethereum ETF candidates set to clear final hurdle this month
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Several industry analysts believe that Bitcoin exchange-traded funds (ETFs) could be on the right track which will be launched in mid-July.
According to industry sources cited in a recent Bloomberg report, several candidates are expected to submit their amended S-1 forms by July 8.
As Nate Geraci, president of The ETF Store, pointed out, that would mean final approval of the S-1 forms would have to happen by July 12. That would “theoretically” mean the launch week of July 15, according to Geraci.
The U.S. Securities and Exchange Commission sent shockwaves through the cryptocurrency industry after unexpectedly greenlighting rule changes (Forms 19b-4) in May. The price of Ethereum (ETH) spiked shortly after the decision. However, the surge was short-lived as the SEC had yet to complete the two-step ETF approval process that also included Forms S-1.
In late June, SEC chief Gary Gensler said the approval of Ethereum ETFs was proceeding “without issue” after previously saying the highly anticipated products could begin trading this summer.
Selling the news?
According to a recent report from K33 Research, Ethereum price could drop right after the launch of several spot ETFs in the United States
However, K33 Research still expects inflows into spot ETFs to be a boon to the leading altcoin’s price. These inflows could reach up to 1% of the cryptocurrency’s total circulating supply, according to the firm.
Last week, Steno Research predicted that these products could potentially attract up to $20 billion in inflows in the first year of trading.
About the Author
Alex Dovbnia
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader, and journalist with extensive experience covering everything related to this booming industry, from price analysis to blockchain disruption. Alex has authored over 1,000 articles for U.Today, CryptoComes, and other fintech outlets. He is particularly interested in regulatory trends around the world that are shaping the future of digital assets. You can contact him at alex.dovbnya@u.today.