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Here's When Ethereum ETFs Will Launch, According to Gensler

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Thu, 13/06/2024 - 16:33
Here's When Ethereum ETFs Will Launch, According to Gensler
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During a Thursday hearing held by the Senate Appropriations Subcommittee on Financial Services, US Securities and Exchange Commission Chair Gary Gensler told Senator Bill Hagerty (R-TN) that he expects the agency to approve S-1 forms for spot Ethereum exchange-traded funds (ETFs) "sometime over the course of this summer." 

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As reported by U.Today, the SEC unexpectedly greenlit the listing and trading of eight Ether ETFs by greenlighting their respective rule rules changes (19b-4 forms).  

However, the approval is a two-step process. Before Ethereum ETFs can go live, they have to clear another hurdle. The SEC has yet to approve S-1 registration forms that contain in-depth information about the products that will be offered to the public. 

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In late May, the agency requested updated S-1 forms from prospective issuers. "Will be interested to see changes in the next batch of amended S-1s. There can't be *that* much work left to do," ETF analyst Nate Geraci said. 

James Seyffart, a well-regarded Bloomberg analyst, appears to be confident that Ethereum ETFs will go live this summer. "July was and is a complete guess. But I was more confident in saying that ETH ETFs will launch at some point this summer. That was sort of a given," he said in a post on the X social media network. 

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As reported by U.Today, JPMorgan predicted that Ethereum ETFs would attract modest inflows compared to Bitcoin ETFs. 

In the meantime, Bitcoin ETFs recorded $100 million worth of inflows, with Fidelity's Wise Origin Bitcoin Fund (FBTC) leading the charge. 

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