Speculation is growing that spot Ether exchange-traded funds (ETFs) might start trading as early as next Tuesday, as the United States Securities and Exchange Commission (SEC) has reportedly given preliminary approval to at least three of the eight asset managers.
The companies named include BlackRock, Franklin Templeton, and VanEck.
According to a July 15 report by Reuters, sources familiar with the matter revealed that the final go-ahead depends on the submission of final offering documents by the end of this week.
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One insider mentioned that all eight spot Ether ETFs are expected to be launched simultaneously, mirroring the SEC's previous strategy with spot Bitcoin ETFs.
Bloomberg ETF analyst Eric Balchunas noted that the SEC directed issuers to submit their final S-1 filings by July 17. The SEC is expected to give official approval to these S-1 filings next Monday, paving the way for the Ether ETFs to start trading on Tuesday, July 23.
If approvals are granted, the spot Ether ETFs will be listed on major exchanges such as Nasdaq, the New York Stock Exchange, and the Chicago Board Options Exchange.
The SEC approved the issuers' 19b-4 filings on May 23.
This progress in the approval process for Ether ETFs represents an essential step toward the mainstream adoption of crypto products. It signals increased regulatory acceptance and offers investors new opportunities to gain exposure to Ether.
At the time of writing, Ether is trading at $3,409, marking a 1.7% increase over the past 24 hours and a 10.7% increase in the past week.
In other news, one of the issuers of spot Ether ETFs, VanEck, has recently filed for the first Solana ETF with the SEC.
