The approval process for the Ethereum spot ETF appears to be in its final stages. Today (27th), Reuters quoted insider information from industry executives and relevant participants as saying that the U.S. Securities and Exchange Commission (SEC) may approve an Ethereum spot ETF as soon as July 4.
After the SEC approved the 19b-4 exchange rule change documents for 8 Ethereum spot ETFs in May, on June 22, all applicants submitted an updated version of the S-1 registration application document. Once the SEC approves the final S-1 According to the document, the Ethereum spot ETF could be listed for trading in as soon as 24 hours.
Two anonymous company executives revealed that the process of revising the S-1 documents has progressed to the point where only "minor issues" remain to be resolved. A lawyer working with one of the publishers also said that the approval process is now "in the final stages" and approval "probably won't take more than a week or two."
Bloomberg analysts estimate it will be launched as early as July 2
Although the SEC declined to comment, SEC Chairman Gary Gensler revealed in an interview yesterday that "progress is going well."
Bloomberg ETF analyst Eric Balchunas, who has accurately predicted the issuance time of Bitcoin futures/spot ETFs, also optimistically expected in mid-month that the SEC is likely to formally approve these ETFs next week and advance their predicted listing date of Ethereum spot ETFs to " July." 2 days ".
Extended reading: Bloomberg Analyst: VanEck has just submitted key documents to the SEC and is more confident that the 7/2 Ethereum spot ETF will be listed
Analyst: The listing of Ethereum spot ETF will not be "too popular"
Current signs show that there is only the last mile left before the listing of the Ethereum spot ETF. However, many ETF and cryptocurrency analysts believe that the capital inflow after the launch of the Ethereum spot ETF is much inferior to the Bitcoin spot ETF listed at the beginning of the year. .
James Butterfill, director of research at Coinshares, commented, “Ethereum’s market capitalization and transaction volume are of a different magnitude than Bitcoin.”
Morningstar ETF analyst Bryan Armor noted:
Given the differences in market size and nature of the two cryptocurrencies, inflows are likely to be more modest when the Ethereum ETF launches.
Bitcoin has had pent-up demand for a decade, so investor interest in its spot ETFs is high, but it won't generate the same excitement.
Ethereum spot ETF price prediction after launch
However, market analysts currently have extreme views on the price of ETH. Last week, Andrew Kang, co-founder of Mechanism Capital, also expressed a conservative view on the influence of Ethereum ETF, estimating that the market flow of Ethereum spot ETF is about 15% of that of Bitcoin. %, believes that the potential upside of ETH after the launch of spot ETF is limited, and he personally predicts that the price will be between US$2,400 and US$3,000 .
However, digital asset trading company QCP Capital has the opposite view, saying that the options market is currently showing optimism, saying that if the Ethereum spot ETF can capture 10%~20% of the flow of the Bitcoin spot ETF, it will likely push the price of ETH to exceed $4,000. and is close to its all-time high of $4,800 .
In terms of currency prices, the ETF once stood above US$3,400 early this morning. At the time of writing, it has fallen back to US$3,377 (a 24-hour drop of 1.1%). Ethereum has fallen by 12% in the past 30 days.
