tl;dr
Eric Balchunas, an ETF expert at Bloomberg, has adjusted his prediction for the approval of spot market Ethereum (ETH) ETFs due to recent SEC comments. He now believes that the ETFs are unlikely to be approved until after the July 4th holiday weekend, as many SEC staff members will be on break until...
Bloomberg ETF specialist Eric Balchunas predicts delay in approval of spot market Ethereum (ETH) ETFs due to SEC staff break until July 8th
SEC Chair Gary Gensler hints at approval of ETH-based spot market ETF applications without specific date
Approval process for spot market Ethereum ETFs faces delay following SEC response to S-1 filings and required disclosure statements
Spot market Bitcoin (BTC) ETFs approved in January, driving significant inflows, while firms explore ETFs based on Ethereum competitor Solana (SOL)
Eric Balchunas, an ETF expert at Bloomberg, has adjusted his prediction for the approval of spot market Ethereum (ETH) ETFs due to recent SEC comments. He now believes that the ETFs are unlikely to be approved until after the July 4th holiday weekend, as many SEC staff members will be on break until then. Balchunas previously anticipated approval by July 2nd, based on the SEC's response to S-1 filings, but SEC Chair Gary Gensler has not provided a specific approval date, stating that it depends on asset managers making full disclosures. While spot market Bitcoin (BTC) ETFs were approved in January, there is also growing interest in creating ETFs based on Ethereum rival Solana (SOL).
An exchange-traded fund (ETF) expert at Bloomberg is moving his estimated date for the approval of spot market Ethereum (ETH) ETFs following recent comments made by the U.S. Securities and Exchange Commission (SEC). In a new thread on the social media platform X, Bloomberg ETF specialist Eric Balchunas says that spot ETH ETFs likely won’t be greenlit until after the July 4th holiday weekend, which extends to the 8th, since many SEC staff members will be on break until then. “Unfortunately, I think we gonna have to push back our over/under till after holiday. Sounds like SEC took extra time to get back to people this week (although again, very light tweaks) and from what I hear, next week is dead because holiday = July 8th. The process resumes and soon after that they’ll launch.” Last month, Balchunas had predicted that the SEC would approve the ETFs by July 2nd after the SEC responded to several S-1 filings submitted by financial giants. At the time, it was found that the regulatory agency sent back the filings to the firms for modifications, hinting that approvals were coming soon. Over a week later, SEC Chair Gary Gensler indicated that the regulatory body would be approving ETH-based spot market ETF applications, but did not give a specific date. At the time, Gensler said the agency was currently working through the required disclosure statements needed. “It’s really about the asset managers making the full disclosure so that those registration statements can go effective and those lawyers know what that is. It’s something our Division of Corporation Finance handles hundreds, if not thousands of times over anybody’s career. It’s smoothly functioning. It’s really up to the asset managers to make the proper disclosures.” Spot market Bitcoin (BTC) ETFs were approved by the SEC in January, bringing in billions of dollars worth of inflows to the top crypto asset by market cap. Recently, firms have also been filing bids to create ETFs based around Ethereum rival Solana (SOL).
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