In what could be a pivotal development, anticipation is mounting as experts speculate on the imminent approval of spot Ethereum ETFs. For example, Nate Geraci, the president of ETF Store, has sparked discussion on X by suggesting that approval could come next week.
Geraci’s prediction aligns with the sentiments of industry insiders such as Bloomberg’s Eric Balchunas, who foresees an ETF debut as early as July 2, strategically timed to coincide with the U.S. Independence Day holiday.
I’m deciphering this as spot eth ETFs will be approved this week…
Just me tho. https://t.co/rFrMThytgC
— Nate Geraci (@NateGeraci) June 23, 2024
Moreover, former SEC official Jay Clayton echoed the prevailing industry sentiment, reinforcing expectations for imminent approvals.
When, not if
The Ethereum ETF saga unfolds against a backdrop of growing institutional interest in the crypto market, particularly BTC and ETH as two major assets.
Currently, the SEC is reviewing revised proposals from major asset managers, including VanEck, BlackRock, Grayscale and Invesco Galaxy Digital. These filings, which follow recent updates to their S-1 reports, had also disclosed a management fee in particular.
Interestingly, amid the buzz, Hashdex, a notable player in the ETF arena, has withdrawn its application for a spot Ethereum ETF without disclosing reasons or future plans, but presented a mixed Ethereum and Bitcoin solution.
For now, all eyes remain on the SEC’s upcoming decisions, which could mark a significant milestone in the integration of crypto into the TradFi markets. With speculation high and anticipation building, next week promises to be a potential turning point for Ethereum ETFs.
