An exchange-traded fund (ETF) expert at Bloomberg is moving his estimated date for the approval of spot market Ethereum (ETH) ETFs following recent comments made by the U.S. Securities and Exchange Commission (SEC).

In a new thread on the social media platform X, Bloomberg ETF specialist Eric Balchunas says that spot ETH ETFs likely won’t be greenlit until after the July 4th holiday weekend, which extends to the 8th, since many SEC staff members will be on break until then.

“Unfortunately, I think we [are] gonna have to push back our over/under till after [the] holiday. Sounds like SEC took extra time to get back to people this week (although again, very light tweaks) and from what I hear, next week is dead because holiday = July 8th. The process resumes and soon after that they’ll launch.”

Last month, Balchunas had predicted that the SEC would approve the ETFs by July 2nd after the SEC responded to several S-1 filings submitted by financial giants.

At the time, it was found that the regulatory agency sent back the filings to the firms for modifications, hinting that approvals were coming soon.

Over a week later, SEC Chair Gary Gensler indicated that the regulatory body would be approving ETH-based spot market ETF applications, but did not give a specific date. At the time, Gensler said the agency was currently working through the required disclosure statements needed.

“It’s really about the asset managers making the full disclosure so that those registration statements can go effective and those lawyers know what that is.

It’s something our Division of Corporation Finance handles hundreds, if not thousands of times over anybody’s career. It’s smoothly functioning. It’s really up to the asset managers to make the proper disclosures.”

Spot market Bitcoin (BTC) ETFs were approved by the SEC in January, bringing in billions of dollars worth of inflows to the top crypto asset by market cap. Recently, firms have also been filing bids to create ETFs based around Ethereum rival Solana (SOL).

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Bloomberg ETF Expert Moves Estimated Ethereum ETF Approval Date Following New SEC Comments appeared first on The Daily Hodl.

An exchange-traded fund (ETF) expert at Bloomberg is moving his estimated date for the approval of spot market Ethereum (ETH) ETFs following recent comments made by the U.S. Securities and Exchange Commission (SEC).

In a new thread on the social media platform X, Bloomberg ETF specialist Eric Balchunas says that spot ETH ETFs likely won’t be greenlit until after the July 4th holiday weekend, which extends to the 8th, since many SEC staff members will be on break until then.

“Unfortunately, I think we [are] gonna have to push back our over/under till after [the] holiday. Sounds like SEC took extra time to get back to people this week (although again, very light tweaks) and from what I hear, next week is dead because holiday = July 8th. The process resumes and soon after that they’ll launch.”

Last month, Balchunas had predicted that the SEC would approve the ETFs by July 2nd after the SEC responded to several S-1 filings submitted by financial giants.

At the time, it was found that the regulatory agency sent back the filings to the firms for modifications, hinting that approvals were coming soon.

Over a week later, SEC Chair Gary Gensler indicated that the regulatory body would be approving ETH-based spot market ETF applications, but did not give a specific date. At the time, Gensler said the agency was currently working through the required disclosure statements needed.

“It’s really about the asset managers making the full disclosure so that those registration statements can go effective and those lawyers know what that is.

It’s something our Division of Corporation Finance handles hundreds, if not thousands of times over anybody’s career. It’s smoothly functioning. It’s really up to the asset managers to make the proper disclosures.”

Spot market Bitcoin (BTC) ETFs were approved by the SEC in January, bringing in billions of dollars worth of inflows to the top crypto asset by market cap. Recently, firms have also been filing bids to create ETFs based around Ethereum rival Solana (SOL).

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Bloomberg ETF Expert Moves Estimated Ethereum ETF Approval Date Following New SEC Comments appeared first on The Daily Hodl.