Galaxy Digital’s head of asset management anticipates that exchange-traded funds (ETFs) for spot Ether (ETH) will likely be approved in “weeks,” rather than days, with a decision expected sometime in July.
Steve Kurz, in an interview with Bloomberg TV on July 2, emphasized the SEC’s thorough review process, describing it as methodical and acknowledging the regulator’s active involvement. Galaxy Digital is partnering with Invesco on one of the eight proposed spot Ether ETFs currently under SEC review.
Kurz’s timeline aligns closely with estimates from other ETF analysts. On June 28, Bloomberg’s ETF analyst Eric Balchunas adjusted his earlier prediction for early July approvals, citing the SEC’s extended evaluation period for S-1 paperwork submissions.
According to a July 2 Bloomberg report, citing sources familiar with the matter, Ether ETF applicants have been given until July 8 to update their paperwork to address minor issues. Further filings may follow this round.
Among the eight applicants approved to list their shares on respective exchanges are BlackRock, Fidelity, 21Shares, Grayscale, Franklin Templeton, VanEck, iShares, and Galaxy/Invesco. All await the green light on their S-1 filings for Ethereum ETFs to commence trading.
Relatedly, K33 Research’s July 2 report highlighted that Ether ETFs could act as a significant catalyst for ETH’s market value, potentially surpassing Bitcoin’s performance in the initial weeks post-launch. Analysts Vetle Lunde and David Zimmerman anticipate initial volatility in Ether’s price upon ETF launch but foresee increased fund inflows benefiting its value, akin to Bitcoin’s historical experience.
For more crypto market insights, including VanEck’s Solana ETF filing and updates on Ether supply dynamics, check out the latest edition of Hodler’s Digest, June 23-29.