Spot Ethereum (ETH) ETFs Set to Launch Within a Week, According to Industry Sources
The post Spot Ethereum (ETH) ETFs Set to Launch Within a Week, According to Industry Sources appeared on BitcoinEthereumNews.com.
According to a Reuters report, three industry sources indicate that spot Ether exchange-traded funds (ETFs) are expected to begin trading on July 23. The sources also mention that the U.S. Securities and Exchange Commission (SEC) has granted preliminary approval for at least three of eight asset managers to release the spot Ether ETFs. Will Spot Ether ETFs Begin Trading Next Week? Nate Geraci, President of the ETF Store, highlighted this development in a post on X. He noted that the SEC has given preliminary approval to at least three of the eight spot Ether ETF issuers to begin trading next Tuesday, with all eight expected to launch simultaneously. Reuters: SEC has given “preliminary approval” to at least three of eight spot eth ETF issuers to begin trading next Tuesday… All eight expected to launch at same time tho. https://t.co/ngACRMnjJr pic.twitter.com/BJfuqR8Ju9 — Nate Geraci (@NateGeraci) July 15, 2024 This statement followed his July 15 post, where he optimistically predicted, “Welcome to spot Eth ETF approval week… I’m calling it. I don’t know anything specific; I just can’t come up with a good reason for any further delay at this point. Issuers are ready for launch.” Sources indicate that prominent asset managers, including BlackRock, VanEck, and Franklin Templeton, are expected to receive SEC approval by July 22, with trading anticipated to begin the following day. However, final approval for these spot Ether ETFs depends on the applicants submitting their final offering documents to the SEC by the end of this week. The journey toward spot Ether ETF approval began in September with low initial expectations due to discouraging SEC feedback. However, the agency’s surprise approval of necessary rule changes in May and SEC Chair Gary Gensler’s acknowledgment of the Grayscale ruling’s impact set the stage for the anticipated launch. Experts Predict More…
Filed under: News - @ July 17, 2024 6:16 am