SEC Issues Final Approval for Ethereum ETFs
The SEC officially issued its final approval for spot Ethereum ETFs on July 22. The funds’ respective webpages are now live, and trading is set to begin as US markets open at 09:30 Eastern Time on July 23.
Bloomberg senior ETF analyst Eric Balchunas confirmed the approvals, stating, “It’s official: Spot Eth ETFs have been made effective by the SEC. The 424(b) forms are rolling in now, the last step = all systems go for tomorrow’s 930am launch. Game on.”
The approval follows rumors from last week and offers regulated exposure to Ethereum for investors. Experts predict significant investment inflows into these ETFs, with estimates ranging from $5.4 billion to $15 billion.
Analysts anticipate a rally in Ethereum prices post-launch, which could also positively impact the overall crypto market. Data from CryptoQuant shows a decrease in ETH held on exchanges, reaching multi-year lows ahead of the ETF launch.
As of now, Ethereum is trading at $3480 according to CryptoSlate data.
This story is developing and will be updated with more information.
For more details, read the full article on CryptoSlate.
