The eagerly awaited spot Ethereum Exchange Traded Funds (ETFs) are scheduled to go live on July 23 following preliminary clearance of certain of the planned Ethereum ETF issuers by the US Securities and Exchange Commission (SEC) led by Gary Gensler.
Three of the eight asset managers that want to provide Ethereum ETFs to their customers have received preliminary permission from the US SEC.
The approval of the three asset managers—Blackrock, VanEck, and Franklin Templeton—depends on the applicants delivering the final offering documentation to regulators by this coming Friday.
All eight Ethereum ETF issuers are expected to launch simultaneously according to credible sources.
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The other Ethereum Etf issuers Fidelity, ARK 21Shares, Grayscale, Bitwise, and Invesco Galaxy are also expected to receive their preliminary approval from the US SEC ahead of next week’s proposed date of trading.
Eric Balchunas, Senior Bloomberg ETF Analyst confirmed the July 23 trading date with a post on X stating that he can confirm that the SEC has asked all issuers to submit their final S-1 fillings on Wednesday ahead of a July 23 launch.
“Update: Nate’s instincts were right, hearing SEC finally gotten back to issuers today, asking them to return FINAL S-1s on Wed (incl fees) and then request effectiveness on Monday after close for a TUESDAY 7/23 LAUNCH. This is provided with no unforeseeable last-minute issues of course!” Eric tweeted.
Nairametrics earlier reported that Bitwise’s Chief Investment Officer Matt Hougan predicted that the Ethereum ETFs could attract up to $15 billion in net inflows in the first 18 months of trading pulling a similar feat to what Bitcoin ETFs launched in January achieved.
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Matt Hougan also expects the S-1 fillings of the issuers to be approved next week on Monday after trading hours. This will prepare it for the launch of trading the next day which is July 23.
If the S-1 fillings by the issuers are approved the spot Ether ETFs by the issuers are expected to be listed on the Nasdaq, New York Stock Exchange, and Chicago Board Options Exchange.
The Ethereum ETF is the second crypto asset to have an exchange-traded fund in the United States after Bitcoin ETFs were launched in January.
There has been speculation about a potential Solana ETF this year after Ethereum ETFs have launched.
