An expert in Bloomberg’s exchange-traded funds (ETFs) predicts that Ethereum (ETH) ETFs could be available in the US as early as July.
Senior ETF analyst Eric Balchunas shared on the social media platform X that ETH-based ETFs might receive approval by July 2nd. This comes after the U.S. Securities and Exchange Commission (SEC) responded to S-1 filings from several major financial firms.
Balchunas suggests that the SEC’s request for modifications indicates that approval is imminent.
“We are adjusting our prediction for the launch of spot Ether ETF to July 2nd, as we have heard that the staff sent comments on S-1s on Friday, and they are minor, requesting them back within a week. There is a good chance they will work to finalize them the following week and clear it before the holiday weekend. While anything is possible, this is our current best estimate.”
Earlier this year, the SEC approved 19b-4 filings from various firms, including BlackRock, Fidelity, VanEck, Grayscale, Bitwise, ARK, Franklin Templeton, and Invesco Galaxy.
Balchunas mentions that his initial prediction for ETH ETF approval was July 4th.
“Our original estimate was July 4th, so this isn’t a significant change, but we were starting to think it might take longer, so this news is somewhat positive. Our predictions are based on where we are most uncertain, and July 2nd is currently that date.”
In May, former SEC Chair Jay Clayton stated that the approval of the firms’ 19b-4 filings by the regulatory body indicates that approval of ETH ETFs is inevitable.
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