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Crypto: July 2nd could mark a turning point for Ethereum ETFs

Mon 17 Jun 2024 ▪ 3 min of reading ▪ by Luc Jose A.
Getting informed Invest

According to leading analysts, the final approval of Ethereum ETFs could be made official as early as July 2, just before the Independence Day weekend. This news is important not only for crypto investors but also for the global financial market. The approval of these ETFs could mark a decisive step towards the legitimization of digital assets, opening the door to new investment opportunities and speeding up the adoption of cryptos on an unprecedented scale.

Les ETF Ethereum bientôt approuvés

A decisive step towards the approval of Ethereum ETFs

The SEC could mark a turning point for cryptos by approving Ethereum ETFs as early as July 2, according to leading experts. “July 2 could be the fateful date,” said Eric Balchunas, senior ETF analyst at Bloomberg. Gary Gensler, the SEC Chairman, recently indicated that the agency could approve S-1 filings for exchange-traded funds on major altcoins “by this summer,” highlighting the significant advancement of the process.

The steps to enable the listing and trading of eight Ethereum ETFs have already been initiated by the SEC, particularly through the approval of required rule changes. However, the S-1 registration statements, which contain detailed information about the financial products, still need to be finalized before their official launch. Last May, the SEC requested issuers to update these forms, a sign that the process is making significant progress.

A turning point for crypto investments?

Nate Geraci, another ETF specialist analyst, shares this optimism. “The last steps before approval are often the most critical, but everything indicates that the SEC is ready to move forward,” he said. According to him, only a few minor adjustments remain before the final approval is granted, an encouraging sign for the cryptocurrency market.

The approval of Ethereum ETFs could have major repercussions for institutional and retail investors. By facilitating access to Ethereum through regulated financial products, this decision could not only bolster the credibility of cryptos but also attract a significant influx of capital. This new liquidity could increase market stability and reduce volatility, making cryptocurrencies more attractive to a broader audience.

In the long term, this approval could serve as a catalyst for other regulatory initiatives favorable to cryptocurrencies worldwide. Regulators in other countries are closely monitoring the SEC’s actions, and approval could prompt other jurisdictions to adopt similar measures. This could accelerate the global adoption of digital assets, driven by increased investor confidence and continued innovation in the sector.

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Luc Jose A. avatar
Luc Jose A.

Graduated from Sciences Po Toulouse and holder of a blockchain consultant certification issued by Alyra, I joined the Cointribune adventure in 2019. Convinced of the potential of blockchain to transform many sectors of the economy, I committed to raising awareness and informing the general public about this ever-evolving ecosystem. My goal is to enable everyone to better understand blockchain and seize the opportunities it offers. Every day, I strive to provide an objective analysis of the news, decipher market trends, relay the latest technological innovations, and put the economic and societal issues of this ongoing revolution into perspective.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.