SEC Approves Ether ETFs for Trading Starting Next Tuesday, July 23

• The SEC’s approval of Ether ETFs sets the stage for potential market expansion and increased investor adoption of digital assets.
• Ether’s outperformance of Bitcoin post-SEC announcement signals strong market confidence in upcoming ETF launches.
• Projections by Gemini and Steno Research suggest significant capital inflows into Ether ETFs, indicating robust investor interest in digital assets.

The Securities and Exchange Commission (SEC) has informed issuers of Ether exchange-traded funds (ETFs) that they can start trading as early as next Tuesday, July 23.

According to sources close to the matter, the SEC had no further comments on the recently submitted S-1 forms. Consequently, final versions must be submitted by Wednesday to meet the trading timeline.

SEC officials have conveyed to issuers that, upon submission of the final S-1 documents, the ETFs can be listed on exchanges. This approval marks a crucial step forward for the cryptocurrency market, with Ether outperforming Bitcoin on Monday. Ether’s price surged by 7.3%, while Bitcoin saw a 6% increase, buoyed by the news of potential ETF trading.

The SEC’s decision represents a milestone in the regulatory landscape, potentially paving the way for increased adoption and investment in Ether. Moreover, the market’s response indicates strong confidence in the future performance of these ETFs, setting the stage for their successful launch next week.

Crypto exchange Gemini predicted that the spot Ether ETFs could attract up to $5 billion in inflows within the first six months. Steno Research anticipates even higher inflows, projecting up to $20 billion in the first year. This optimistic outlook reflects growing investor interest in digital assets and the potential for substantial market expansion.

Bloomberg Intelligence senior ETF analyst Eric Balchunas, reported this development on social media, highlighting the imminent trading start for these funds. Besides VanEck and Invesco Galaxy, which have disclosed their management fees, other issuers are expected to reveal their fees soon.

The broader market index, climbed 5.6% on Monday, underscoring the positive market sentiment driven by the SEC’s approval. This development positions Ether ETFs to significantly impact the cryptocurrency market, offering investors a new avenue to engage with digital assets.