- Ethereum ETF approval is expected by September allowing issuers to prepare for trading.
ETH price declined post-announcement but showed recovery.
As a researcher with experience in the crypto market, I’m closely monitoring the developments surrounding Ethereum [ETH] spot Exchange Traded Funds (ETFs) and their potential approval by the SEC. The recent indication from SEC Chair Gary Gensler that approvals are expected to take place this summer brings renewed excitement for investors. However, my personal experience tells me that market reactions can be unpredictable, especially following major announcements.
The SEC has at last revealed a definite schedule for the decision on Ethereum [ETH] ETFs, long-awaited by many in the crypto community.
Is SEC ready to approve the ETH ETF?
At a budget meeting held on the 13th of June, Securities and Exchange Commission (SEC) Chair Gary Gensler addressed a query from U.S. Senator Bill Hagerty regarding the timeline for deciding on proposed exchange-traded funds (ETFs) based on ether. Gensler expressed his expectation that these decisions would be made this summer.
Providing further insights on the same, Gensler added,
“Individual issuers still are working through the registration process. It’s working smoothly.”
On the 23rd of May, the SEC gave its green light to 19b-4 applications from no less than eight companies. Yet, in order to begin trading on American stock exchanges, these issuers were left with one more significant hurdle to overcome: securing approval for their S-1 filings.
In a recent conversation with Reuters, Gensler clarified the dependence of the SEC’s approval process for spot Ethereum ETFs on the timeliness of issuers’ responses to regulatory feedback.
As a researcher observing registrant behavior, I’ve noticed that they demonstrate a strong intrinsic motivation to engage with comments. However, the extent of their responsiveness ultimately depends on their individual choices.
From my perspective as an analyst, Nate Geraci, the President of ETF Store, voiced his disappointment regarding the lengthy approval process.
As a crypto investor, I’ve been keeping a close eye on the developments regarding the potential approval of Ethereum ETFs. While there have been some concerns raised, SEC Chairman Gensler’s recent remarks suggest that we can expect a decision by September. The delay from the initial June timeline is likely to provide issuers with additional time to get ready for trading once approved.
ETH’s market performance
After the announcement on the 13th of June, ETH‘s price dropped from $3,558 to reach a low of $3,464 – its least valued point in the month so far.
According to the most recent information, Ethereum has exhibited some improvement, increasing by 0.69%, and its current price stands at $3,517.
Although the indicators didn’t show a clear sign of bullishness, Ethereum could potentially succumb to the ongoing bearish market conditions once more.
Read More
- SQR PREDICTION. SQR cryptocurrency
- JASMY PREDICTION. JASMY cryptocurrency
- DOP PREDICTION. DOP cryptocurrency
- LDO PREDICTION. LDO cryptocurrency
- SAGA PREDICTION. SAGA cryptocurrency
- T PREDICTION. T cryptocurrency
- XLM vs. XRP: Which One is Better, Stellar Lumens or Ripple?
- SEILOR PREDICTION. SEILOR cryptocurrency
- Miners ‘punishing’ Bitcoin? Analysts point fingers as BTC slides below $66K
- CELL PREDICTION. CELL cryptocurrency
2024-06-14 14:15