The Chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, recently stated that the final approval of an Ethereum spot ETF is expected to be completed at some point this summer. In light of this statement, Bloomberg ETF analyst Eric Balchunas announced yesterday that the launch date of the Ethereum spot ETF has been moved up to July 2.
On May 24, the SEC approved the 19b-4 rule change documents for 8 Ethereum spot ETFs, marking an important step towards their listing. The market is closely watching for when the SEC will approve the S-1 registration statement and for the official listing.
During a hearing at the Senate Banking Committee on the 13th, SEC Chairman Gary Gensler disclosed the expected timing of the final approval, stating that the SEC anticipates approving the S-1 registration application for the Ethereum spot ETF “at some point this summer.”
Gary Gensler had previously mentioned on the 6th that the formal approval of the Ethereum spot ETF depends on the speed of responses from the issuers to the SEC’s comments, suggesting that the SEC will not delay the approval process for the S-1 documents as some had feared. However, he did not reveal whether he believed the listing would take weeks or months.
Bloomberg ETF analyst Eric Balchunas, in response to Gensler’s comments, announced yesterday that the launch date of the Ethereum spot ETF has been moved up to July 2. He revealed that he had heard the SEC provided brief comments to the issuers on the S-1 documents, with no major issues, and requested a response within a week.
Deribit noted that the favorable news of the potential approval of the S1 documents for the Ethereum spot ETF has accelerated the timeline for its launch, bringing greater certainty and leading to a rapid rebound in ETH from $3360. Quick traders have already purchased bullish options expiring on June 21 in the $3500-3700 range, viewing it as an excellent opportunity to buy ETH call options.
