Finance

Ethereum ETF Set to Launch on Tuesday, July 23, Says Bloomberg Analyst

Photo by eberhard 🖐 grossgasteiger / Unsplash

Bloomberg anticipates the launch of spot Ethereum ETFs next Tuesday, July 23. This date was provided by Eric Balchunas, the publication's senior ETF analyst.

The reasoning behind this prediction stems from the U.S. Securities and Exchange Commission (SEC) requesting issuers to submit final S-1 forms this Wednesday. According to Balchunas, this request included the regulator specifying the date:

"Update: Nate's instincts were right: he heard that today the SEC finally got back to the issuers with a request to return the FINAL S-1 on Wednesday (including fees) and then request effectiveness on Monday after the close for a LAUNCH ON TUESDAY, July 23. Of course, this is assuming no unforeseen last-minute issues!"

Earlier on Monday, Nate Geraci, president of the investment advisory firm ETF Store, stated that the current week would see the approval of Ethereum ETFs and that issuers are ready for the launch:

"Welcome to spot Ethereum ETF approval week...

I'm calling it.

I don't know anything specific, just don't see any valid reasons for further delays at this point."

The news backdrop in recent days has been increasingly bullish. The only concerning factor is the BTC Fear and Greed Index being abruptly pulled out of the extreme fear zone (28) into the neutral zone (52). Although, based on funding, there haven't been any notable changes.

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