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The highly anticipated launch of Ethereum spot ETFs in the United States may be just around the corner. The US Securities and Exchange Commission (SEC) has reportedly asked Ethereum ETF issuers to submit their final S-1 filings, including fees, by Wednesday, July 17. Eric Balchunas, a Bloomberg ETF analyst, confirmed on social media that this request marks a crucial step towards the approval and launch of these products. The launch of Ethereum spot ETFs in the U.S. is nearing, with the SEC asking for final filings, sparking investor enthusiasm and a significant price surge for ETH. Ethereum ETF Launch Date Anticipated for July 23 Following the SEC’s request for final S-1 filings, the launch of Ethereum spot ETFs in the U.S. is expected to take place on July 23. Eric Balchunas highlighted this development as a major milestone, indicating the SEC’s readiness to approve the ETFs, provided no unforeseen issues arise. This request underscores the regulator’s heightened focus on moving these filings closer to the finish line, after facing earlier delays. SEC’s Review Process and Industry Response Bitwise Investment, one of the primary applicants, has reportedly made substantial progress in addressing the SEC’s concerns, as noted by Katherine Dowling, the company’s CCO. Despite initial expectations of an early July approval, additional scrutiny extended the timeline. However, this progress indicates that the regulatory hurdles are being surmounted, bringing the financial industry closer to a monumental shift in cryptocurrency investments. Market Reactions and Ethereum Price Surge The recent developments have already catalyzed significant market reactions, particularly visible in Ethereum’s price surge. On Monday, Ethereum’s price jumped by 7%, breaking the $3,430 threshold, driven by investor optimism. Additionally, trading volumes skyrocketed by 71%, reflecting heightened market activity and anticipation. Analysts predict that the launch of Ethereum ETFs will not only validate Ethereum as…

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Filed under: News - @ July 15, 2024 11:24 pm