As a seasoned crypto investor with a few years under my belt, I can’t help but feel a sense of excitement and anticipation as the long-awaited approval of Ethereum (ETH) Exchange Traded Funds (ETFs) is finally within reach. Having closely followed the development of Bitcoin ETFs and their subsequent success, I believe the launch of ETH ETFs could be a game-changer for the crypto market.
As an analyst at Bloomberg Intelligence with a focus on crypto-related exchange-traded funds (ETFs) in the United States, I’ve been closely monitoring developments regarding the approval of ETH ETFs. According to recent updates, the Securities and Exchange Commission (SEC) has communicated to potential issuers that they may list their products on exchanges as early as July 23. To proceed with the launch, these issuers must submit their final S-1 forms by this Wednesday, July 22. The SEC has indicated it has no further comments or questions at this time.
Balchunas expressed relief on X that the SEC had contacted issuers and asked them to submit their final S-1 filings, including fees, by Wednesday. Effectiveness would then be requested on Monday following the close of business for a Tuesday, July 23rd launch – assuming no unexpected last-minute issues arise.
As the deadline for submitting finalized forms approaches this Wednesday, issuers are required to disclose the management fees they intend to levy on investors. Invesco, Galaxy Digital, Franklin Templeton, and VanEck have already made public their respective fees of 0.25%, 0.25%, 0.19%, and 0.20%. Yet to be announced are the fees for BlackRock, Grayscale, Fidelity, ARK 21Shares, and Hashdex.
Experts and relevant parties predict that Ethereum Exchange-Traded Funds (ETFs) could draw in significant funds, potentially reaching billions of dollars within a few months after their launch. For instance, Gemini anticipates $5 billion, while Steno Research estimates a higher figure of $20 billion.
Based on my extensive experience following the cryptocurrency market and regulatory developments, I believe we are on the precipice of a significant milestone for Ethereum Exchange-Traded Funds (ETFs). The fact that they have reached the final step in the approval process is an exciting development for the entire crypto community. While we eagerly await the formal announcement from the Securities and Exchange Commission (SEC), which is expected soon, perhaps as early as this week following the last application submissions on Wednesday, I can’t help but feel a sense of anticipation.
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2024-07-17 12:45