Ethereum ETFs are expected to be approved soon, experts in the field say it could happen by July 2. The head of the SEC, Gary Gensler, suggested that spot exchange-traded funds (ETFs) on major altcoins might be approved this summer.
Eight Ethereum ETFs can now be listed and traded thanks to changes the SEC made to the rules. The last step is to approve the S-1 registration forms, which give full information about the products.
Issuers were asked to send new S-1 forms in late May, which shows that the approval process is still moving forward.
Ethereum ETF Decision
A senior ETF analyst at Bloomberg, Eric Balchunas, thinks that the SEC will approve it by July 2. He bases this opinion on recent brief comments made by SEC staff to issuers, who were given a timeline to respond quickly.
The time fits with the idea that a decision could be made before the weekend of July 4th, which is seen as a likely date for approval.
ETF expert Nate Geraci agrees with the positive outlook and sees few problems left before final approval.
If Ethereum ETFs are approved, it would be an enormous accomplishment forward for the cryptocurrency market. It might open up more business chances and let more people use digital assets.
People in the business world are closely watching what’s going on and trying to guess what the SEC’s decision will mean for businesses of all sizes and clients.
