Bitrabo Editorial
After a period of eager anticipation, the introduction of spot Ethereum ETFs in the US is on the horizon. The US Securities and Exchange Commission (SEC) has asked Ethereum ETF issuers to submit their final S-1 filings, including fee details, by Wednesday, July 17.
July 23 Proposed for Ethereum ETF Launch
Bloomberg’s ETF specialist Eric Balchunas shared on social media that the SEC has requested final Ethereum ETF filings, hinting at progress in the approval process. The potential launch date is set for Tuesday, July 23. Bitwise Investment, one of the Ethereum ETF applicants, has been streamlining its S-1 filings, encountering fewer hurdles along the way, according to Bitwise’s CCO Katherine Dowling.
Despite earlier speculations that Ethereum ETFs could be approved by July 4, a delay ensued due to the requirement for further review and processing, shifting the expected launch date to July 23.
ETH Price Sees 7% Surge
The news of the impending ETF launch has already spurred investor excitement, resulting in a significant 7% increase in Ethereum’s price. Ethereum crossed the $3,430 threshold on Monday for the first time in a fortnight. Furthermore, trading volume surged by 71%, indicating robust interest and anticipation ahead of the Ethereum ETF introduction and its projected positive impact on the token’s price.
Image source: DALL-E, Chart source: TradingView.com