Bloomberg Analyst: Ethereum ETF Likely to Launch in the U.S. on July 2

Bloomberg’s Exchange Traded Fund (ETF) experts predict that a spot market Ethereum ETF is expected to launch in the U.S. by early July.

Eric Balchunas, Bloomberg’s senior ETF analyst, shared on social media platform X that after the U.S. Securities and Exchange Commission (SEC) responded to S-1 filings from several major financial firms, an Ethereum-based ETF might receive approval by July 2.

Balchunas noted that the SEC’s request for minor form modifications suggests that approval is imminent.

“We have moved up the launch date for the Ethereum spot ETF to July 2 after learning that SEC staff sent comments on the S-1 filings to issuers on Friday. The comments were light, with no major issues, and requested responses within a week.

“It’s highly likely that these measures will be declared effective next week, resolving the matter before the holiday weekend. While anything is possible, this is our best estimate at the moment.”

Earlier this year, the SEC approved 19b-4 filings from companies including BlackRock, Fidelity, VanEck, Grayscale, Bitwise, ARK, Franklin Templeton, and Invesco Galaxy.

Balchunas had initially projected the approval date for the Ethereum ETF to be July 4.

“Our previous prediction was July 4, so this isn’t a major change, but 1) we had begun to think it might take longer, so this is good news; 2) we’ve narrowed down the most likely timeframe to July 2.”

In May, former SEC Chairman Jay Clayton stated that the regulatory body’s approval of 19b-4 filings made the approval of an Ethereum ETF “inevitable.”