- SEC approves spot Ethereum ETFs to start trading on July 23.
- Final S-1 forms must be submitted by Wednesday.
- Effectiveness applications due after Monday’s close.
- Bloomberg analyst Eric Balchunas confirms timeline.
Coindesk reported The U.S. Securities and Exchange Commission (SEC) has given the green light for spot Ethereum ETFs to begin trading as soon as July 23. This approval marks a significant milestone in the cryptocurrency market, opening up new investment avenues for both retail and institutional investors.
SEC Approval and Submission Deadlines
The SEC’s approval means that issuers of spot Ethereum ETFs must submit their final S-1 forms by Wednesday. According to Bloomberg analyst Eric Balchunas, the issuers need to apply for the effectiveness of these forms after the close of business on Monday. This schedule ensures that trading can commence on Tuesday, July 23.
This development follows a series of rigorous evaluations by the SEC, aiming to ensure that these financial products meet all regulatory requirements. The approval is seen as a vote of confidence in the robustness and security of Ethereum as an asset class.
Impact on the Crypto Market
The introduction of spot Ethereum ETFs is expected to bring substantial changes to the cryptocurrency market. By allowing direct investment in Ethereum, these ETFs provide a more straightforward and less risky entry point for investors compared to traditional methods of purchasing and storing cryptocurrencies.
