Spot Ethereum ETFs Nearing SEC Approval, Expected to Boost Market by 90%

Jul 11, 2024, 02:26 PM

The launch of spot Ethereum (ETH) ETFs in the U.S. is imminent, with eight proposed ETFs nearing approval. Bitwise's chief compliance officer Katherine Dowling noted that the SEC has fewer issues left to vet, suggesting an imminent launch. SEC Chair Gary Gensler had predicted a summer launch, but issuers have been waiting six weeks for S-1 approvals. The approval of these ETFs is expected to significantly impact the Ethereum market, with projections of a potential 90% jump in Ether's value. Prospective issuers are eagerly awaiting final details from the SEC, following the submission of S-1 forms on July 8. Bloomberg Experts have also weighed in on the matter. The spot Ethereum ETFs will unlock $9b worth of ETH.