Bloomberg analysts are anticipating the launch of spot Ethereum ETFs by mid-July. The application process is expected to settle around July 15, according to ETF analyst James Seyffart. However, Seyffart mentioned that he has low confidence in this launch date prediction at the moment.
The recent amendment to Bitwise’s spot Ethereum ETF application on July 3 included a six-month fee waiver for the first $500 million in assets. Despite these minimal changes, Seyffart believes that the ETFs should be ready to go within a couple of weeks.
ETF analyst Eric Balchunas expressed his frustration, stating that the latest round of comments involved “literally nothing” and that the funds should have already started trading. He noted that the light comments allowed Bitwise to amend its application earlier than the July 8 deadline.
The SEC approved 19b-4 rule changes on May 23, allowing exchanges to list and trade the pending spot Ethereum ETFs. However, there is no set deadline for the approval of S-1 registration statements for asset managers to issue the funds.
While Balchunas initially predicted a launch before July 4, he extended the timeline as the SEC requested applicants to amend their registration statements by July 8. Other applicants, such as Galaxy Digital, are also expecting the Ethereum ETFs to launch in the coming weeks.
Overall, the industry is eagerly awaiting the launch of spot Ethereum ETFs, and analysts are closely monitoring the developments in the application process. The final approvals are expected to come from the SEC, but the timeline remains uncertain as issuers wait for the green light to begin trading these funds.