Spot Ethereum ETFs to Commence Trading on July 23 Following SEC Directive

The Securities and Exchange Commission (SEC) has instructed asset managers to finalize registration statements for spot Ethereum Exchange-Traded Funds (ETFs) by Wednesday, with trading expected to commence on July 23. This move follows the SEC’s prior approval of spot Ethereum ETFs in May, which marked a significant development in allowing investors to access Ethereum through traditional brokerage accounts. The approval process for these ETFs has been somewhat slow, but anticipation has been steadily growing since the initial announcement.

This latest directive from the SEC, as reported by sources familiar with the matter, includes a request for finalized registration statements with details such as management fees for each fund. While the approval process for spot Ethereum ETFs has been ongoing, individual s-1 filings from asset managers like BlackRock, Fidelity, and Grayscale are still pending approval. Despite the delays, SEC Chair Gary Gensler has indicated that the overall process is progressing smoothly as long as companies provide investors with full disclosures.

The upcoming launch of spot Ethereum ETFs is anticipated to be a significant moment for the cryptocurrency market, particularly for Ethereum, the second-largest coin by market capitalization. According to K33 Research, these ETFs could attract up to $4 billion in inflows within their initial five months of trading. While Ethereum’s price has experienced fluctuations in recent months, showing both highs and lows, the approval of these ETFs could potentially bring further stability and investment into the cryptocurrency.