Ethereum Spot ETF Trading Set to Begin July 23, SEC Announces: Report

On Jul 16, 2024

Reportedly, the US SEC has confirmed that ETH spot ETF issuers can commence trading their ETFs starting next week.

In May 2024, the United States Securities and Exchange Commission (SEC) partially approved multiple Ethereum spot ETF applications. Currently, ETH spot ETF issuers are awaiting final approval to commence trading on exchanges.

On 15 July 2024, A popular crypto news media CoinDesk reported that the sources close to the matter told that the SEC informed prospective issuers of atleast three spot Ethereum (ETH) exchange-traded funds (ETF) trading can begin next Tuesday, as reported by CoinDesk.

Which means July 23 may be the first date for ETH spot ETF products to start trading on stock exchanges in the US.

The ETFstore president Nate Geraci also confirmed this information on behalf of his own analysis & different sources.

Welcome to spot eth ETF approval week…

I’m calling it.

Don’t know anything specific, just can’t come up w/ good reason for any further delay at this point.

Issuers ready for launch.
— Nate Geraci (@NateGeraci) July 14, 2024

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Later Bloomberg ETF expert Eric Balchunas also said that Nate’s instincts are correct as the SEC has informed issuers today to submit their final S-1s by Wednesday, including fees, and to request effectiveness on Monday after close for a launch on Tuesday, July 23.

On behalf of all this information, Balchunas assumes there are no unforeseen last-minute issues.

Update: Nate's instincts were right, hearing SEC finally gotten back to issuers today, asking them to return FINAL S-1s on Wed (incl fees) and then request effectiveness on Monday after close for a TUESDAY 7/23 LAUNCH. This is provided no unforeseeable last min issues of course! https://t.co/D21FD9Qf94
— Eric Balchunas (@EricBalchunas) July 15, 2024

Following this news, the trade price of Ethereum (ETH) gained very big bull momentum. The current trade price of Ethereum is $3,470 & this price is 6% high over the last 24 hours.

Ethereum Spot ETF Trading Set to Begin July 23, SEC Announces: Report 1

It is worth noting that the trading price of Ethereum has experienced a significant decline in the last 2 weeks, influenced by bearish sentiments. The Ethereum coin has been trading below the $2,800 price level. Therefore, we can say that the current trading price of Ethereum is 25% higher than its all-time low in July 2024.