SEC could approve spot Ethereum ETFs by July 4: report

The Securities and Exchange Commission could approve applications for spot Ethereum ETH -0.84% ETFs as soon as July 4, according to Reuters, which cited anonymous sources.

The SEC "could approve exchange traded funds tied to the spot price of ether as soon as July 4, as talks between asset managers and regulators enter the final stages, industry executives and other participants told Reuters," according to the report published Wednesday.

On Tuesday, Gary Gensler, acting SEC chair, said the process for launching spot Ethereum ETFs was “going smoothly.” That same day, VanEck also filed a Form 8-A for its Ethereum ETF, appearing to indicate that the instrument could soon be trading on an exchange.

Launching by July 4 closely aligns with Bloomberg's Senior ETF analyst Eric Balchunas's predictions.

The SEC  approved 19b-4 forms for eight Ethereum ETFs last month. Firms attempting to launch the new financial instruments are awaiting their registration statements, or S-1s, to become effective before trading can begin.