Countdown Begins: ETH Spot ETF Trading Approval by U.S. Securities Regulator Just 7 Days Away!

An ETF expert noted a very interesting development related to Ethereum spot ETF products and said that we are just 7 days far from final approval.

As we know Ethereum spot ETF applications have already been approved by the United States Securities and Exchange Commission (SEC) and currently all the ETH spot ETF issuers are waiting for the trading approval, so that people can start trading these crypto ETF products. 

On 25 June 2024, Bloomberg ETF expert Eric Balchunas said that VanEck had recently filed an 8-A form for a spot in Ethereum ETF. He said that it is merely part of the standard process for ETF product approval.

Balchunas noted that VanEck filed the same form for their spot Bitcoin ETF exactly seven days before its launch in Jan 2024. 

He suggested that this is a positive indicator for their expected trading start by July 2nd, which is now just seven days away. However, he also cautioned that anything is possible and more information will likely emerge soon.

Some crypto X (formerly Twitter) users asked whether there will be any option for Ethereum staking for ETH ETF buyers. Balchunas clarified that there are no details regarding this, which means ETH spot ETF issuers will not provide ETH staking services.

$15 billion money inflow 

In a note sent to clients on Tuesday, Bitwise CIO Matt Hougan compared Ethereum’s market capitalization to Bitcoin’s. He used data from international exchange-traded product markets and considered the impact of the carry trade to arrive at his figure. He also noted that earlier this month, spot Bitcoin ETFs experienced $15 billion in net inflows after five months of trading.

On behalf of the analysis, Hougan predicted that the Ethereum spot ETF market will secure a net inflow of $15 billion in the first 18 months.

Read also: Bitcoin bull sentiment returns with a $31 million net inflow in the BTC ETF market