Ethereum
Ethereum ETF Launch Date Announced by Renowned Analyst
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According to Eric Balchunas, senior ETF analyst at Bloomberg, Ethereum exchange-traded funds are together to be launched on July 23.
Potential issuers were asked to resubmit their final S-1 forms on Wednesday by the U.S. Securities and Exchange Commission.
It is worth noting that the launch of Ether ETFs will take place right in the middle of the Bitcoin 2024 conference.
It should be noted that the launch of these products could be further delayed due to last minute issuers.
Earlier in the day, Nate Geraci, president of the ETF Store, said he could not find a “good reason” for the SEC to further delay the launch of these products, adding that the issues had already been resolved.
As reported by U.TodayThe SEC approved 19b-4 filings for various spot Ethereum ETFs last May, which appeared to be a major turnaround. Just days before the approval, these products were widely anticipated be rejected by the SEC.
However, there is still much uncertainty about the level of demand these products will manage to attract.
For example, banking giant JPMorgan predicted that these products would significantly underperform Bitcoin ETFs. However, crypto-native firms like Gemini expect Ethereum ETFs to see moderate success.
Coinbase researchers notably predicted that the launch of Ether ETFs could be either bullish or bearish for cryptocurrency markets depending on the amount of inflows.
Regardless of the success of these products, the launch of the first spot altcoin ETFs would mark a historic change.
In the meantime, VanEck and 21Shares have already submitted Solana ETF RequestsHowever, analysts believe that approval is unlikely this year.
About the Author
Alex Dovbnia
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader, and journalist with extensive experience covering everything related to this booming industry, from price analysis to blockchain disruption. Alex has written over 1,000 articles for U.Today, CryptoComes, and other fintech outlets. He is particularly interested in regulatory trends around the world that are shaping the future of digital assets. You can contact him at alex.dovbnya@u.today.