Ethereum

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Bloomberg analyst Eric Balchunas has revised the estimated timeline for launching the highly anticipated <a href="https://coingape.com/breaking-spot-ethereum-etf-issuers-asked-by-sec-to-submit-updated-s-1-filings-by-friday/">spot Ethereum ETF</a>, now setting the over/under date to July 2nd.&nbsp; 
This change takes place after the latest remarks from the SEC staff to the issuers of the S-1 filings, where the process is described to be going well with only a few comments that need to be addressed within a week. 
<h2 id="new-timeline-for-ether-etf">New Timeline for Ether ETF</h2> 
As stated by Balchunas, the SEC has started providing feedback on S-1 filings made by issuers, indicating that the S-1 review process is being accelerated. 
According to Balchunas, the new timeline was driven by new information from the SEC, where the regulatory body has sought some changes from the ETF issuers. He observed, 
<blockquote>
 “Decent chance they work to declare them effective the next week and get it off their plate before the holiday weekend.”
</blockquote> 
This timeline shift by a mere one day from the previously anticipated July 4th is a positive sign from analysts who had already prepared for possible pushbacks. The quick turn around and feedback from the SEC demonstrate that it is prepared to approve the <a href="https://coingape.com/blackrock-submits-a-revised-s-1-form-for-its-spot-ethereum-etf/">Ether ETFs</a> that investors and market analysts have been looking forward to. 
<h2 id="sec-chair-s-spot-ethereum-etf-outlook">SEC Chair’s Spot Ethereum ETF Outlook</h2> 
The move towards the approval of Ether ETFs comes at a time when there is more clarity on the legal framework surrounding cryptocurrencies. SEC Chair <a href="https://coingape.com/gary-gensler-says-eth-spot-etf-s-1-might-be-approved-this-summer/">Gary Gensler</a> has estimated the approvals to happen “over the course of this summer,” based on his testimony during the Senate Appropriations Committee Hearing. Senator Bill Hagerty also commented on the timeline and thanked Gessler for estimating that the process would be completed by the “end of the summer.” 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 UPDATE: we are moving up our over/under date for the launch of spot Ether ETF to July 2nd, hearing the Staff sent issuers comments on S-1s today, and they're pretty light, nothing major, asking for them back in a week. Decent chance they work to declare them effective the next… <a href="https://t.co/XJZ8JLwEFF">https://t.co/XJZ8JLwEFF</a> 
 — Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1801725292404261308?ref_src=twsrc%5Etfw">June 14, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
The launch of Ether ETFs is expected to offer institutional investors a compliant way of investing in the crypto assets, hence, increasing the chances of traditional investments in these assets. This comes in the wake of approval of similar <a href="https://coingape.com/canada-banking-giants-pour-millions-into-bitcoin-etf-amid-inflow-resurgence/">Bitcoin-based ETFs</a> which have already started to shape market trends. 
These developments have been received generally well by the market with traders and investors starting to build up the expectation on how these changes may affect the Ethereum’s liquidity and its price. 
Read Also: <a href="https://coingape.com/tether-ceo-highlights-usdt-impact-on-global-dollar-demand/">Tether CEO Highlights USDT Impact on Global Dollar Demand</a> 
The post <a href="https://coingape.com/breaking-bloomberg-analyst-updates-timeline-for-spot-ether-etf/">Breaking: Bloomberg Analyst Updates Timeline for Spot Ethereum ETF</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Breaking: Bloomberg Analyst Updates Timeline for Spot Ethereum ETF

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