Ethereum ETFs May Be Launched in Early July

Krutika Adani

Gary Gensler Hints Approval

In an interview with Bloomberg, SEC Chairman Gary Gensler hinted at the approval of Ethereum ETFs. He said that the processes for Ethereum ETFs were going smoothly.

Delayed Over a Month

Since their in-principal approval last month, the SEC has taken more time than expected to allow individual S1 applications.

Comments From Ripple’s CEO

Ripple’s CEO, Brad Garlinghouse, believes that the delays in the Ethereum ETFs might cause Biden his elections. The US elections are scheduled for October 2024.

Impact on ETH Price

The possibility of approval in the near future has held the price of ETH stable despite Bitcoin losing its $62k support.

Future Outlook

Though Ethereum ETFs might not be as large as Bitcoin ETFs, they are helpful for investors who want to buy ETH but do not want to go through the hassle of buying and securing them.