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News - Bloomberg is convinced: Ethereum spot ETF launching within weeks?
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17-06-20241 min read
Bloomberg is convinced: Ethereum spot ETF launching within weeks?
The SEC approved the ETH Spot ETF a few weeks ago. But when will it launch? Very soon, according to Bloomberg: Eric Balchunas, one of the analysts, predicts a July 2, 2024 launch, he wrote on Twitter.
UPDATE: we are moving up our over/under date for the launch of spot Ether ETF to July 2nd, hearing the Staff sent issuers comments on S-1s today, and they're pretty light, nothing major, asking for them back in a week. Decent chance they work to declare them effective the next… https://t.co/XJZ8JLwEFF
— Eric Balchunas (@EricBalchunas) June 14, 2024
The SEC already approved the so-called 19b-4 applications of eight companies on May 23. Thus, they have been formally approved. To be allowed to trade on U.S. stock exchanges, the authority must still approve the S-1 applications. SEC Chairman Gary Gensler has indicated that the launch will take place "sometime in the summer."
If we take the launch of the Bitcoin Spot ETF as an example, the price of Ethereum is likely to soar a few weeks after the launch.
