Anticipation Builds for Ethereum Spot ETF Approval in Coming Weeks

Anticipation Builds for Ethereum Spot ETF Approval in Coming Weeks

The crypto community is eagerly awaiting the final approval of Ethereum spot ETFs, which experts believe could happen in the coming weeks.

Last week, the crypto industry was thrilled when the U.S. Securities and Exchange Commission (SEC) approved an intention statement from the New York Stock Exchange (NYSE) to list eight Ethereum spot ETFs on its trading platform. This was a significant first step towards the actual approval (known as S-1 applications) of these index funds. Now, experts are speculating on how long it will take for the SEC to give the final green light.

Bloomberg analyst Eric Balchunas, for example, believes that final approval could come either at the end of June or by July 4, which is American Independence Day. He cites an updated application from BlackRock as evidence. This update also reveals that the world's largest asset manager has already secured a seed investor for its own ETF (ETHA), who purchased 40,000 shares for a total of $10 million.

Communication between applicants and the authority has certainly been resumed. Previously, there seemed to be little exchange between the parties. This was also confirmed by Jan Van Eck, CEO of the eponymous asset manager

Initially, the Ethereum ETFs were also supposed to offer staking, but this option was removed by the applicants prior to approval. However, the more important question is whether the ETFs can deliver a similar performance to the Bitcoin index funds that were approved in January. You can read what various market experts think about this here.

After a brief negative phase, Bitcoin ETFs are currently taking off again. For more information, see: Bitcoin ETPs Hold More Than 1,000,000 BTC Worldwide