tl;dr
Bloomberg analyst Eric Balchunas has revised the estimated timeline for launching the spot Ethereum ETF to July 2nd. The SEC has provided feedback on S-1 filings, accelerating the review process. This one-day shift from the previous July 4th date is seen as a positive sign, indicating potential appr...
Bloomberg analyst Eric Balchunas has revised the estimated timeline for launching the spot Ethereum ETF to July 2nd. The SEC has provided feedback on S-1 filings, accelerating the review process. This one-day shift from the previous July 4th date is seen as a positive sign, indicating potential approval of the Ether ETFs.
SEC Chair Gary Gensler has estimated approvals to happen "over the course of this summer." The launch of Ether ETFs is expected to offer institutional investors a compliant way of investing in crypto assets and may impact Ethereum's liquidity and price.
Bloomberg analyst Eric Balchunas has revised the estimated timeline for launching the highly anticipated spot Ethereum ETF, now setting the over/under date to July 2nd. This change takes place after the latest remarks from the SEC staff to the issuers of the S-1 filings, where the process is described to be going well with only a few comments that need to be addressed within a week.
As stated by Balchunas, the SEC has started providing feedback on S-1 filings made by issuers, indicating that the S-1 review process is being accelerated. According to Balchunas, the new timeline was driven by new information from the SEC, where the regulatory body has sought some changes from the ETF issuers.
This timeline shift by a mere one day from the previously anticipated July 4th is a positive sign from analysts who had already prepared for possible pushbacks. The quick turn around and feedback from the SEC demonstrate that it is prepared to approve the Ether ETFs that investors and market analysts have been looking forward to.
The move towards the approval of Ether ETFs comes at a time when there is more clarity on the legal framework surrounding cryptocurrencies. SEC Chair Gary Gensler has estimated the approvals to happen “over the course of this summer,” based on his testimony during the Senate Appropriations Committee Hearing.
The launch of Ether ETFs is expected to offer institutional investors a compliant way of investing in the crypto assets, hence, increasing the chances of traditional investments in these assets. This comes in the wake of approval of similar Bitcoin-based ETFs which have already started to shape market trends. These developments have been received generally well by the market with traders and investors starting to build up the expectation on how these changes may affect the Ethereum’s liquidity and its price.
More about Optical Cable Corporation
Optical Cable Corporation Summary Optical Cable Corporation Summary
Optical Cable Corporation manufactures and sells fiber optic and copper data communications cabling and connectivity solutions primarily for the enterprise market in the United States and internationally. The company is headquartered in Roanoke, Virginia.
Industry
Manufacturing
Key Activities
Drawing & insulating of nonferrous wire
Financials
Revenue: $219,411,000
Net Income: -$0.54
EPS: $8.35
ROE: -0.0643
Market Cap: $65,237,000
Dividend Yield: 0%
Beta: -0.179