I'd be 'shocked' if Ethereum ETFs weren't trading soon, expert says — here's when to expect a green light from the SEC

The launch of Ethereum spot ETFs is expected to shake up cryptocurrency markets.
Investors are expected to pour $500 million into the fund in the first week.
The question is when ETFs will start trading.

The crypto industry’s high hopes for this week’s launch of Ethereum spot exchange-traded funds are fading.

While some pundits approached Independence Day weekend with the prediction that ETFs could begin trading as early as this week, ETF Store President Nate Geraci says the launch is more likely the week of July 15.

He said he would be shocked if spot ETH ETFs were not launched within the next two weeks.

The delay is a minor setback after market watchers had already pushed back their launch estimates from the week of July 4 to after July 8.

The timing of when the Securities and Exchange Commission greenlights the next batch of ETFs is crucial.

When the SEC approved 11 Bitcoin spot ETFs in January, it sparked a market rally that saw Bitcoin hit record highs.

If spot Ethereum ETFs can replicate that success, it could pull cryptocurrencies out of last week’s freefall that wiped out nearly 20% of the sector’s total value, according to CoinGecko.

Experts estimate that investors will pump up to $500 million and $15 billion into the new funds in the first week and 18 months, respectively.

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Yet experts continue to push back the estimated launch date as the regulator repeatedly asks applicants like Blackrock and Fidelity to amend their applications.

“No one is sure why the SEC is taking its time with this information, given the lightness of the comments, it could have easily been negotiated by now,” tweeted Erich Balchunas, an analyst at Bloomberg Intelligence.

“It could be a ‘problematic’ transmitter slowing down the process or just summer laziness or people on vacation. I’m not sure.”

He added that everything indicates that the launch will take place this month.

Cryptocurrency Market Players

Bitcoin is down 0.2% over the past 24 hours to around $56,809.
Ethereum is up 1.5% over the same period to around $3,012.

What we read

Eric Johansson is editor-in-chief of DL News. Got a tip? Email it to us [email protected].