Ethereum ETFs Set to Launch Next Week, SEC Gives Green Light
The Securities and Exchange Commission (SEC) has given the green light for Ethereum exchange-traded funds (ETFs) to begin trading as early as next Tuesday, July 23, according to sources familiar with the matter. This news has already had a significant impact on the market, with Ethereum’s price surging by 7.3% on Monday to $3,472, outperforming Bitcoin’s gain.
Industry experts are projecting substantial inflows into ETH ETFs, with Gemini predicting up to $5 billion in net inflows within the first six months post-launch and Steno Research estimating a staggering $20 billion within a year. The SEC has also granted “preliminary approval” to at least three asset managers for their spot Ether ETFs, including BlackRock, Franklin Templeton, and VanEck.
Bitwise’s chief investment officer, Matt Hougan, predicts that ETH ETFs could attract up to $15 billion in inflows within the first 18 months of trading, similar to the inflows seen by spot Bitcoin ETFs since their launch six months ago. The potential listing of ETH ETFs on major exchanges like Nasdaq, New York Stock Exchange, and Chicago Board Options Exchange is expected to further legitimize Ethereum and increase its accessibility to traditional investors.
Overall, the impending launch of Ethereum ETFs is generating excitement in the market and could potentially open up new investment opportunities for both institutional and retail investors. Stay tuned for more updates as the launch date approaches.
