Ethereum ETF Approval: ETH Price Swings Anticipated Ahead of 18 July

Spot Ethereum ETF approval is likely by July 18, with significant issuers updating filings and Grayscale proposing a "mini" ETF, potentially triggering substantial price volatility.
Crypto, Voice Of Crypto

Key Insights

  • The SEC is expected to approve spot Ethereum ETFs soon, with most issuers already having amended filings.

  • VanEck, 21Shares, Grayscale, Franklin Templeton, Fidelity, and BlackRock are among the issuers vying for approval with these filings.

  • Grayscale is proposing a "mini" Ethereum ETF to make it more affordable for investors.

  • So far, analysts predict approvals between now and 18 July, with a likely listing by 15 July.

  • Ethereum price volatility is expected as the SEC reviews filings and decides.

The crypto industry has been awaiting the approval of spot Ethereum ETFs for a long time now, and from the looks of things, these Exchange-Traded Products might finally be here.

According to recent developments in crypto, the approval process is moving faster, especially now that most issuers have submitted their amended filings to the US Securities and Exchange Commission.

Let's review this week's newest filings and why a prominent analyst believes Thursday, July 18, might be the day.

Latest Amended Filings

VanEck, one of the leading ETF issuers, was the first to submit its amended registration statement for the ETFs, which featured a name change to “The VanEck Ethereum Trust.”

Following VanEck, we had 21 Shares, which submitted its ETF registration with updated clauses that show it aims to provide its investors with an accessible way to hold Ethereum without direct exposure.

On the other hand, Grayscale submitted two amended filings to the existing Grayscale Ethereum Trust, which has an AUM of more than $25 billion in assets at the time of writing.

The second Grayscale filing introduces what it calls a “mini” equivalent, designed to be cheaper for investors to access.

Franklin Templeton, Fidelity, and BlackRock filed amended proposals between Monday and the time of this writing.

However, the interesting thing about these filings is that while they lack specific fee details, Bloomberg ETF analyst Eric Balchunas expects the SEC to request another round of updates to include this before a final approval.

Ethereum Staking and Price Trends

In detail, the Grayscale “Mini” ETF mentioned above has clarified, along with the others, that none of its Ethereum holdings will be staked, which is likely a move towards better odds of approval.

So far, however, Bloomberg ETF analysts James Seyffart and Eric Balchunas predict possible approvals between now and the next few weeks. Seyffart noted in a recent tweet, “Expect more from other issuers throughout the rest of the week. We're thinking these things could potentially list later next week or the week of the 15th at this point.

Eric Balchunas added, "if you forced me gun to head style to give my best guess for date I'd go with 18 July."

Overall, the spot Bitcoin ETF approvals helped Ethereum climb upwards to around $4,000 between January and March this year.

However, the cryptocurrency has declined by around 25% since then and is now trading at around $3,000.

As these asset managers fine-tune their proposals and the SEC reviews S-1 filings before the 18 July deadline, we are set to see massive volatility on Ethereum.

However, will an approval or rejection turn out to be a “sell the news” event?

Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information but will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.

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