Fun

Spot Ethereum ETFs may begin trading by July 2 — Bloomberg Analyst

News Feed - 2024-06-15 03:06:33

Ciaran Lyons2 hours agoSpot Ethereum ETFs may begin trading by July 2 — Bloomberg AnalystBloomberg ETF analyst Eric Balchunas says his "best guess as of now" is that spot Ether ETFs will begin trading in the United States before July 2.1271 Total views5 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksSpot Ethereum (ETH) exchange-traded funds (ETF) could potentially begin trading in the United States by July 2, according to Bloomberg ETF analyst Eric Balchunas.


“We are moving up our over/under date for the launch of spot Ether ETF to July 2nd,” Balchunas wrote in a June 15 post on X, noting that the United States Securities and Exchange Commission" (SEC) staff comments on the ETF applicants S-1 applications were “pretty light, nothing major,” and asked for them back within the week.


“Decent chance they work to declare them effective the next week and get it off their plate before the holiday weekend. Anything is possible but this is our best guess as of now,” he added, referring to U.S. Independence Day, which is an annual celebration held on July 4 each


The comments seem to be a turnaround in confidence from the day before, when Balchunas claimed that Ether ETF applicants were still waiting for feedback from the Division of Corporation Finance — a division of the SEC that oversees firms disclosures — and he was debating whether to push back his July 4 prediction.Source: Eric Balchunas


On May 23, the SEC approved eight 19b-4 filings to list spot Ether ETFs on various U.S. exchanges, but they can’t start trading until they have the required S-1 registration statement approvals.SEC Chair Gary Gensler provided a broader timeframe for potential approval date


SEC Chair Gary Gensler provided a broader timeframe for when spot Ether ETFs might begin trading, indicating that it could happen within the next three months, by the end of September.


However, just a week earlier, Gensler indicated that the speed of Ether ETF approvals would rely on how quickly issuers could address comments from the SEC.


Related:Crypto exchanges see $3B Ethereum exit since ETF approvals


While some traders are hopeful that Ether’s price could mirror Bitcoin"s chart movements following ETF approval on January 11, which surged to record highs of $73,679 by March 13, not everyone has the same confidence.


On June 3, Stephen Richardson, managing director of financial markets at Fireblocks, argued that spot Ether ETFs won’t see the same day-one inflow as spot Bitcoin ETFs did, as the asset’s use cases are far more difficult to value.


“What’s missing is widespread consensus that effectively evaluates the utility or utilization rate of the Ethereum blockchain.” he said in comments to Cointelegraph.


Magazine:‘Bitcoin Layer 2s’ aren’t really L2s at all: Here’s why that matters# Bloomberg# Ethereum# Adoption# United States# Regulation# Ethereum ETF# ETFAdd reaction

News Feed

Cointelegraph10 hours agoUkrainian Children of Heroes need your help: Donate with cryptoDonate crypto to Children of Heroes and help support the youngest Ukrainians affected by the Russian invasion.2998 Total views55 Tot
Matrixport warns of market euphoria, correction after Bitcoin’s $60K milestone
Zhiyuan Sun9 hours agoMatrixport warns of market euphoria, correction after Bitcoin’s $60K milestoneThe blockchain financial service firm argued in January that a spot Bitcoin ETF would not be approved by the U.S. Secu
Two New York City Bars up for Sale for a Total 25 Bitcoins
Two New York City Bars up for Sale for a Total 25 Bitcoins Two New York City bars are up for sale for a combined 25 bitcoins or 800 ether – over $800k at c
Ethereum Not Out Of The Woods Yet: Why Another 30% Crash To $1,800 Is Coming
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Will the Bitcoin halving bring more institutional investors into crypto?
Andrew Singer9 hours agoWill the Bitcoin halving bring more institutional investors into crypto?The Bitcoin ETFs appear to have opened many institutions’ eyes to Bitcoin as an alternate asset. Will the April halving ac
How Hackers Exploited Twitter’s VPN Problems, Obtained God Mode and Took Over Accounts
How Hackers Exploited Twitter"s VPN Problems, Obtained God Mode and Took Over Accounts An investigation by the New York State Department of Financial Services ha
Three African Countries Plan to Adopt Cryptocurrency and Blockchain Solutions
Three African Countries Plan to Adopt Cryptocurrency and Blockchain Solutions Three African countries — namely Cameroon, the Democratic Republic of Congo (DRC), and the Repu
Here Are Some Fun Things to Do With Bitcoin Cash
Here Are Some Fun Things to Do With Bitcoin Cash The best use for any currency would be to spend it on things you need or even better, enjoy. And spending has to be easy and inex
Sam Bankman-Fried gets 25 years — What happens now?
Turner Wright6 hours agoSam Bankman-Fried gets 25 years — What happens now?Will the former FTX CEO actually be in federal prison until he’s 57 years old? Will anything change in regard to FTX users getting their fund
Ezra Reguerra22 minutes agoSecurity firm dWallet Labs flags validator vulnerability that could affect $1B in cryptoValidator service provider InfStones disagreed and told Cointelegraph that “nothing close to $1 billion
Arijit Sarkar14 hours agoFTX exploiter moves $36.8M in Ether as Sam Bankman-Fried’s trial startsWhile the exploiter initially held 175,496 ETH ($294 million), the current balance in their portfolio has come down to $19
Binance’s Russian successor CommEx to shut down in April
Helen Partz11 hours agoBinance’s Russian successor CommEx to shut down in AprilCommEx previously remained silent about its founders or key executives, but admitted having some former Binance Russia veterans in the team