Bloomberg’s senior ETF analyst has reaffirmed his prediction of a July 2 launch date for U.S. spot ethereum exchange-traded funds (ETFs) after observing a surge in amended S-1 (registration statement) filings on Friday. U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has indicated that spot ether ETFs will launch this summer, pending the SEC’s approval of their S-1 filings.
Bloomberg Analyst Doubles Down on July 2 Spot Ether ETF Launch Date Amidst Surge in S-1 Filings
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US Spot Ether ETFs Expected to Launch on July 2
Bloomberg ETF analyst Eric Balchunas has reaffirmed his prediction of a July 2 launch date for spot ether exchange-traded funds (ETFs) following a surge in amended S-1 (registration statement) filings from issuers. The U.S. Securities and Exchange Commission (SEC) approved 19b-4 filings for eight spot ether ETFs last month. However, the securities watchdog still needs to greenlight their S-1 filings before these spot ether ETFs can begin trading.
Balchunas shared on social media platform X Friday: “We will see a bunch of amended S-1s filed today, prob later this afternoon. Then [the] ball’s in SEC’s court to let issuers know about any final changes and effectiveness (aka final approval).” The analyst added:
We [are] holding the line with July 2nd as our over/under for ETH ETFs launch date.
As Balchunas expected, multiple spot ether ETF issuers submitted their amended S-1 filings on Friday. The Bloomberg analyst noted that based on these submissions, the fees for spot ethereum ETFs appear to be as low as or lower than those for spot bitcoin ETFs.
He detailed that Blackrock, the world’s largest asset manager, has entered the market with a $10 million seed investment. Vaneck also filed, revealing a low fee of 0.20%, closely matching Franklin’s 0.19%, putting pressure on Blackrock to keep fees under 30 basis points. Fidelity, Bitwise, 21shares, and Grayscale also filed but did not disclose their fees, Balchunas noted.
The SEC approved eight spot ethereum ETF 19b-4 filings on May 23. According to the regulator’s notice, NYSE Arca obtained permission to list the Grayscale Ethereum Trust and the Bitwise Ethereum ETF. Nasdaq is approved to list Blackrock’s Ishares Ethereum Trust. BZX Exchange can list the Vaneck Ethereum Trust, the ARK 21shares Ethereum ETF, the Invesco Galaxy Ethereum ETF, the Fidelity Ethereum Fund, and the Franklin Ethereum ETF. Earlier this month, Cathie Wood’s Ark Investment Management reportedly withdrew from the race to launch a spot ether ETF, as Ark’s name was removed from the application filed with 21shares.
Anticipation is building in the financial world as SEC Chairman Gary Gensler indicated during a recent congressional hearing that he envisions spot ether ETFs launching in the course of this summer. Some people in the crypto community are hopeful that after spot ether ETFs, the SEC may approve other crypto ETFs, such as solana or XRP ETFs.
When do you think spot ethereum ETFs will launch in the U.S.? Do you think July 2 is a reasonable prediction? Let us know in the comments section below.
