ETF Store President: Spot Ethereum funds could be approved on July 15

What’s new? Nate Geraci, the president of the investment advisory firm ETF Store, has allowed the possibility that the US Securities and Exchange Commission (SEC) will approve spot exchange-traded funds (ETFs) based on the native coin of the Ethereum blockchain on July 15. According to the senior executive, several factors are in favor of this prediction.

Source: X.com

What else is known? First of all, Geraci pointed out that Bloomberg analysts predict the launch of spot ETH ETFs in mid-July. Next, he noted that the SEC has commented on potential issuers’ Form S-1 filings to register new securities and asked for necessary adjustments to be made by July 8.

In addition, the regulator’s chairman, Gary Gensler, noted at a Senate hearing that spot funds based on the largest altcoin will be approved this summer.

Despite this, the edits may not be final and may stretch over time. The approval of Forms S-1 to register fund shares is the second phase of the launch. In the first phase, the SEC in May approved Forms 19b-4 from stock exchanges that plan to list similar products.

While there are regulatory deadlines for Forms 19b-4, there are none for Forms S-1. Nevertheless, many experts expect ETH ETF approval soon.

VanEck will launch spot ETH ETF with zero management fee

The 0,20% levy will only be introduced after certain conditions are met

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As part of the latest round of edits, many investment firms disclosed more information about their products. For example, Franklin Templeton and VanEck set management fees at 0,19% and 0,20%, with VanEck initially not charging fees. As Bloomberg analyst Eric Balchunas suggested earlier, the companies set some kind of standard with these actions, and other issuers will also set low fees.

Geraci believes that after the final round of revisions, the final versions of the S-1 documents will be ready by July 12, which theoretically means that such funds will be allowed to trade on July 15.

Earlier, investment company CoinShares recorded the largest outflow of funds from Ethereum-based derivatives since August 2022. It reached $119 million over the past two weeks. Analysts called ETH the worst altcoin this year in terms of net flows.