Bloomberg analyst Eric Balchunas, who has become one of the most well-known names in the cryptocurrency world and is known for his expertise on ETFs, spoke about the start of trading of Ethereum spot ETFs, which was eagerly awaited by the market.
According to the update made by Balchunas on the social media platform X, the SEC finally responded to spot ETF application companies today. The SEC asked companies to submit final S-1 forms as well as compensation information by Wednesday. After this, it expects them to be processed after the markets close on Monday and to start trading on Tuesday, July 23.
However, the analyst added that this information will be valid if unforeseen last-minute problems are ignored.
Balchunas also noted the irony that July 23, the estimated trading start date for Ethereum Spot ETF approvals, will coincide with the biggest Bitcoin conference of the year.
ETH Spot ETFs were approved on May 23, but approval of their S-1 forms was delayed slightly by the SEC because they were not yet ready for trading.
*This is not investment advice.