Spot Ethereum (ETH-USD) ETFs could be listed as soon as this Friday. With all eyes on the SEC, the anticipation is building for what could be a major milestone in cryptocurrency investment.
The Race to Approval
There’s a mad dash to get these spot Ethereum ETFs approved and listed. Last week, several issuers submitted their amended S-1 forms, a critical step in the process. Notably, these filings didn’t include fee information, which means there’s still some back-and-forth to be expected with the SEC.
According to CoinDesk, Invesco and Galaxy have already set their fees at 0.25%, while VanEck was ahead of the curve by publishing their fee structure earlier. This indicates that progress is being made, but there’s still some fine-tuning needed before the final green light.
Timing Is Everything
Unlike the 19b-4 filings for spot Bitcoin ETFs approved in May, there’s no hard deadline for the SEC to make a final decision on the ether ETFs. This means we’re looking at a fluid timeline that could see approvals rolling in either by the end of this week or in the next few weeks.
Nate Geraci, president of the ETF Store, expressed his optimism on X, suggesting that the week of July 15 is a likely time frame for these listings. Geraci’s insights are backed by the recent flurry of activity and the SEC’s history of quick turnarounds once all requirements are met.
On the Edge of Approval
If the SEC provides feedback by the end of Tuesday, issuers could file their final amendments by Wednesday. Historically, the SEC has taken about two days to issue final approvals after receiving the necessary documents. This timeline aligns with the possibility of spot Ethereum ETFs starting to trade by Friday, provided everything goes smoothly.
Impact on Price of Ethereum
The listing of spot Ether ETFs may have an impact on ETH’s price. As noted by Nate Geraci, the approval and subsequent trading of these ETFs will provide a more accessible and regulated way for investors to gain exposure to Ethereum. This increased demand could drive up the price of ETH. Historically, similar events with Bitcoin ETFs led to a surge in Bitcoin prices, and many analysts believe Ethereum will follow a similar trend. The anticipation alone has already sparked increased interest and activity in the market.
At the time of writing, Ethereum is sitting at $3,085.
A New Era for Investors
The launch of spot ether ETFs will open the doors for more regulated investment in Ethereum, the second-largest cryptocurrency by market cap. This development is not just a win for institutional investors but also for the average investor looking for a safer way to gain exposure to Ethereum.
So, as we count down the days, it’s clear that the launch of spot ether ETFs is closer than ever. Whether it’s this Friday or a few weeks down the line, the crypto community is on the edge of its seat, ready for the next big leap.
For now, we wait and watch, as the SEC’s final decision could come any day. And when it does, the world of cryptocurrency investment will never be the same.
