Ethereum ETFs Could Be Approved in Early July

Bloomberg analyst Eric Balchunas predicts that Ethereum ETFs could see approval weeks from now, potentially launching as soon as July 2nd.

During a recent Senate Committee hearing, SEC Chair Gary Gansler indicated that the approval process for Ethereum ETFs is going smoothly and could conclude over the summer.

Bloomberg’s forecast and Gansler's positive remarks suggest that Ethereum ETF trading might be just around the corner.

Bloomberg Prediction

Bloomberg analyst Eric Balchunas shared the company’s latest opinion in an X post on June 14th.

The post starts with an updated Ethereum EFT launch date prediction “We are moving up our date for the launch of spot Ether ETF to July 2nd, hearing the Staff sent issuers comments on S-1s today.”

Bloomberg’s main argument is that the SEC’s comments should be easy to address and quick to process: ”They're pretty light, nothing major, asking for them back in a week,”

“Decent chance they work to declare them effective the next week and get it off their plate bf holiday wknd,” the company concluded, suggesting that the SEC could deem the S-1’s valid as soon as this week.

What Gary Gansler Said

The US SEC initially approved the 19b-4 filings from eight different asset managers on May 23rd. However, those filings were just one part of the process, and now asset managers are waiting for the approval of S-1 registration statements necessary for the Ethereum ETFs to start trading.

On June 13th, during the Senate Committee hearing, SEC Chair Gary Gansler shed light on important Ethereum ETF questions asked by Senator Bill Hagerty.

He stated that he expects the SEC to approve S-1 registration statements “sometime over the course of this summer.”

“Individual issuers still are working through the registration process that’s working smoothly,” Gary explained, showing a positive outlook on the current progress.

This is great news for Ethereum ETF proponents who are eager to get their hands on the latest crypto investment vehicle as soon as possible. The potential early approval and launch of Ethereum ETFs could mark a significant milestone for the crypto industry.

‍