Bittime - Analysts previously predicted that Ether spot ETFs could begin trading on US exchanges in late June, but the SEC has not provided an exact date. Chairman of the United States Securities and Exchange Commission (SEC), Gary Gensler, told lawmakers that the regulator will probably approve the listing and trading of Ether spot exchange-traded fund (ETF) shares within the next three months.
Senate Banking Committee Hearing
In a Senate Banking Committee hearing on June 13 discussing President Joe Biden's proposed 2025 budget for the SEC, Gensler stated that he expected the commission to approve an S-1 registration statement for the asset manager "sometime this summer." On May 23, the SEC approved the 19b-4 filings of the eight companies, but the applications require S-1 approval before the ETFs can begin trading on US exchanges.
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Tennessee Sen. Bill Hagerty questioned Gensler on why the commission hasn't "fully approved an Ether ETF," claiming that the SEC chairman isn't prioritizing "constructive regulations for the crypto industry." Although Commodity Futures Trading Commission Chairman Rostin Behman stated that Ether is a commodity in response to Senator Hagerty's question, Gensler did not provide a direct answer and turned to the topic of Ether ETFs.
Gensler Statement on ETF Approval
“The Ethereum exchange-traded products from the filings that are before us from the stock exchanges — I think there are eight or nine of them — are all mutually approved,” Gensler said. "Individual publishers are still in the full swing of the registration process, and I anticipate approval will occur sometime this summer..."
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Estimated Time for Final ETF Approval
The SEC chairman stated in an interview on June 5 that final approval of a spot Ether ETF would “take time” after approving the 19b-4 filing. Bloomberg ETF analyst Eric Balchunas suggests that a June launch of Ether products on US exchanges is possible but predicts final SEC approval will occur on July 4.
"July is a complete guess," said ETF analyst James Seyffart at X in response to Gensler's comments. "But I'm more confident that an ETH ETF will launch sometime this summer. That's almost certain."
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Regarding Other Spot ETF Approvals
On January 10, the SEC approved a 194-b filing for a spot Bitcoin ETF. The investment vehicle began trading on January 11 after the SEC approved the S-1 effective prospectus.
Major Players in Bitcoin Spot ETFs
BlackRock's iShares Bitcoin Trust was one of the first ETFs to begin trading on the Nasdaq. The SEC has approved the asset manager's 19b-4 filings — in addition to applications from Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy, and Franklin Templeton — but it's not yet clear which companies will be first to launch once the S-1 registration statements are approved.
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