A little more patience for Ethereum ETFs
Fast approaching: Ethereum ETF will soon grace us with its launch. The impatience is at an all-time high as Gary Gensler, the SEC president, has confirmed that these will launch this summer…but perhaps later than expected.
Until then, experts have agreed on the official opening of exchange-traded funds on July 2 at the latest. However, according to a recent report by Reuters, the deadline could be moved to July 4. So don’t panic if nothing happens next Tuesday.
The US SEC may approve the launch of a spot Ethereum ETF by July 4, according to Reuters. The negotiations between the management companies and the regulators have entered the final phase and only the last minor revisions remain. Approval may take a week or two at most.…
— Wu Blockchain (@WuBlockchain) June 26, 2024
Regardless, it seems unlikely that the Ethereum ETF will arrive later than next week. Negotiations between product issuers and the SEC are said to be in the final stages, with only a few revisions remaining. However, this step may take up to two weeks.
But when the day comes, we must expect great cataclysms. While the capital inflow could be stronger than expected, it is also possible that the price of ETH could crash a few days after.
More funds will follow
Once Ethereum ETFs are deployed, don’t expect to rest. The cryptosphere, which has been launched on its way, requires the opening of new funds by the end of the year, and in the coming months there is a danger of being interrupted by waiting.
Solana appears to be next on the list with the first application filed last week. But be careful, the future product will be a little different from what we expected.
To better understand the issues: what is a crypto ETF?
As for Dogecoin, it could do an IPO during this cycle. At least that’s what Arthur Hayes suggests, although no one has come forward yet.
Moral of the story: Patience is the biggest prayer for Ethereum ETFs.
Disclaimer: In accordance with The Trust Project guidelines, BeInCrypto is committed to providing unbiased and transparent information. This article aims to provide accurate and relevant information. However, readers are encouraged to check the facts for themselves and seek professional advice before making any decisions based on this content.