Ethereum ETFs Delayed: Bloomberg Analyst Predicts Launch Rescheduled for July 2nd

Bloomberg's exchange analyst Eric Balchunas recently reported a rescheduling in the launch date of the spot Ethereum ETFs, now set for July 2nd, following feedback on the S-1 forms submitted by issuers. According to Balchunas, the feedback received was "fairly straightforward, nothing serious," indicating no major concerns from the U.S. Securities and Exchange Commission (SEC). Originally expected to launch on July 4th, the slight delay is seen as minimal, and Balchunas noted earlier anticipations of a longer delay which makes this reschedule a relatively good news.

In a follow-up query, Balchunas explained that trading of Ethereum ETFs typically commences the day after S-1 forms are approved. On June 13th, SEC Chairman Gary Gensler mentioned that he expects the bureaucratic processes for the commencement of Ethereum ETF trading to conclude by the end of the summer.

It's important to recall that on May 23rd, the SEC approved Form 19b-4 applications from issuers of spot exchange-traded funds based on Ethereum. Trading will commence following the SEC’s approval of the registration statements under Form S-1.

Looking ahead, Jeffrey Kendrick, head of research at Standard Chartered, hinted at a new phase for exchange-traded funds in 2025, with Solana (SOL) and Ripple (XRP) potentially next in line.

Moreover, analysts at Bernstein have predicted significant growth in the cryptocurrency ETF market, estimating it could reach $450 billion within the next two years. This projection underscores the burgeoning interest and anticipated expansion of cryptocurrency investments through traditional financial instruments like ETFs.