During a one on one interview taking place at the Bloomberg Invest Summit in New York, US Securities and Exchange Commission Chairman Gary Gensler said the approval process for several Ethereum (ETH) ETF applications was going “smoothly.” “.
During a one on one interview taking place at the Bloomberg Invest Summit in New York, US Securities and Exchange Commission Chairman Gary Gensler said the approval process for several Ethereum (ETH) ETF applications was going “smoothly.” “.
However, Gensler does not know exactly when these products may begin to be marketed. He has stated that asset managers are supposed to make appropriate disclosures before launch.
As reported by U.TodayThe head of the SEC previously stated that Ethereum ETFs would go live this summer.
Alex DovbnyaLast week, several potential Ethereum ETF spot issuers, including financial giant BlackRock, filed amended registration statements that include information about fees and initial investments.
Earlier today, financial firm VanEck also moved closer to final approval of its Ethereum ETF application by filing a Form 8-A.
Bloomberg ETF analyst Eric Balchunas has predicted that Ethereum ETF products could launch on July 2nd. According to the expert, VanEck’s latest move bodes well for this prediction.
Alex DovbnyaThe SEC surprised the cryptocurrency industry with unexpected Forms 19b-4s in May. However, this was only the first step in the ongoing approval process. Now, the agency has to greenlight numerous S-1 registration forms that will actually allow Ethereum ETFs to go live.
In late May, banking giant JPMorgan predicted that the yet-to-be-launched Ethereum spot ETFs would not attract the same level of demand as their record-breaking Bitcoin counterparts earlier this year. Its analysts expect these products to attract just $3 billion in inflows this year, which would be just a small fraction of the total inflows that Bitcoin ETFs have recorded.
