Altcoin
Spot Ethereum ETF S-1 Amendments Due on Monday, Will the SEC Approve This Time?
As we head into the second week of July, all eyes are on the S-1 submissions for the spot Ethereum ETFs, expected to go live by July 15. In the last week of June, the US SEC had returned all the S-1 forms to the issuers asking them to resubmit with some minor changes. ETF Store President Nate Geraci says that the amendments to the S-1 filings shall likely arrive by Monday, July 8.
Spot Ethereum ETF Amendments
Geraci stated that the bigger thing to watch is how quickly will the U.S. Securities and Exchange Commission (SEC) process these amendments. The ETF Store President stated that the primary focus will be on the fees associated with these ETFs. some market players like Bitwise have already submitted their S-1 amendments last week. Other issuers like BlackRock, 21Shares, Fidelity, and Grayscale are like to submit by Monday.
Spot eth ETF S-1 amendments supposedly due tomorrow…
How quickly will SEC turn these around?
Again, main item I’m watching for is fees (which won’t be required w/ these amendments).
Otherwise, assume issuers gearing up for launch in next week or two.
— Nate Geraci (@NateGeraci) July 7, 2024
He further added that issuers are preparing for a potential launch in the next two weeks subject to the SEC approval. Market analysts are predicting that the Ether ETF inflows could be somewhere around $15 billion in the next six months of launch.
Also Read: Grayscale Reveals Ethereum ETF Listing Can Lure 25% US Voters To ETH Investing
ETF Store President Nate Geraci has expressed strong confidence that spot Ethereum ETFs will begin trading within the next two weeks. Note that the Ethereum price is already down by 20% since the approval of 19b-4 filings.
The Ethereum Price Corrects Further
After falling sub $3,000 levels last week, the Ethereum bulls tried to push the price above $3,100, however, managed to sustain there only for a brief period of time. In the last 24 hours, the Ethereum price has tanked by an additional 5.6% slipping all the way to $2,871 with its market cap falling under $350 billion.
It will be interesting to see whether the approval of the spot Ether ETFs triggers some upside movement or if the bears continue to dominate.
Also Read: Will ETH Outperform BTC as ETF Launch Nears in July?
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
✓ Share: