Ethereum ETF Launch Date Announced by Top Analyst

According to Eric Balchunas, Bloomberg's senior ETF analyst, Ethereum exchange-traded funds are set to be launched on July 23. 

Prospective issuers have been asked to re-submit their final S-1 forms on Wednesday by the U.S. Securities and Exchange Commission. 

Notably, the launch of Ether ETFs will take place right in the middle of the Bitcoin 2024 Conference. 

It is worth noting that the launch of these products could still be delayed due to last-minute issuers. 

Earlier today, Nate Geraci, president of the ETF Store, said that he could not come up with a "good reason" for the SEC to further delay the launch of these products, adding that issues are ready.        

As reported by U.Today, the SEC approved 19b-4 filings for various spot Ethereum ETFs back in May in what appeared to be a major U-turn. Just days before the approval, these products were widely expected to be rejected by the SEC.   

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However, there is still a lot of uncertainty regarding the level of demand that these products will manage to attract. 

For instance, banking giant JPMorgan has predicted that these products will severely underperform compared to Bitcoin ETFs. However, crypto-native firms of the likes of Gemini expect Ethereum ETFs to be moderately successful. 

Notably, Coinbase researchers have forecasted that the launch of Ether ETFs could be either bullish or bearish for crypto markets depending on the amount of inflows.      

Regardless of how successful these products are going to be, the launch of the first spot altcoin ETFs would mark a historic shift.      

In the meantime, VanEck and 21Shares have already submitted Solana ETF applications. However, analysts believe that their approval is unlikely to happen this year.