The anticipation for Ethereum Spot ETFs is nearing its climax. According to Bloomberg analyst Eric Balchunas, the SEC might grant approval next week, marking a significant milestone for the crypto industry.
SEC’s Formalities and Approval Timeline
The SEC’s review of the S-1 applications, a standard procedural step, signals that the regulatory body is setting a “game plan” for the ETFs’ approval. Balchunas speculates that, although an exact date isn’t confirmed, July 18 seems likely.
Also Read: Saxony State Criminal Police Office’s Record Bitcoin Sale 50,000: How It Happened
Background and Industry Expectations
The crypto community has been eagerly awaiting this development since late May, when the SEC approved the 19b-4 applications, indicating an initial declaration of intent. Experts have since predicted that the official green light would come in July.
Also Read: The Catalyst for Next-Gen Blockchain Integration
Conclusion
With the SEC moving through its final formalities, the approval of Ethereum Spot ETFs could mark a pivotal moment for digital assets, potentially happening as soon as next week. Investors and industry watchers alike are on the edge of their seats, ready for what could be a transformative event in the cryptocurrency market.
Also Read: German Authorities Execute Largest Bitcoin Sale Ever: 12,000 BTC in a Single Day
