The Securities and Exchange Commission (SEC) has informed issuers of Ethereum (ETH) exchange-traded funds (ETFs) that trading can commence next Tuesday, according to sources familiar with the matter.
Issuers have been instructed to submit their final S-1 documents by Wednesday. The SEC indicated that there are no further comments on the recently submitted S-1 forms, paving the way for the ETFs to be listed on exchanges on Tuesday, July 23. A second source mentioned that trading could start as early as Tuesday, following the effectiveness of the ETFs on Monday.
Eric Balchunas, a senior ETF analyst at Bloomberg Intelligence, first reported this development on social media.
Issuers submitted amended S-1 documents last week but have yet to disclose all details, including management fees. So far, only a few issuers, such as VanEck and Invesco Galaxy, have revealed their fees.
Once these spot Ether ETFs are live, they could see significant inflows. Crypto exchange Gemini predicts up to $5 billion in the first six months, while Steno Research expects inflows of up to $20 billion in the first year.
The news of the SEC’s approval led to a notable market reaction. On Monday, the price of Ether surged by 7.3%, outperforming Bitcoin’s 6% gain. The broader market, as measured by the CoinDesk 20 index, also saw a 5.6% increase.
