Ethereum

Spot

<ul class="list-ic vertical">
 <li>1 <a>Spot Ethereum ETF, partially approved by the SEC on May 23, is still awaiting its final approval.</a></li>
 <li>2 <a>The SEC ordered all the applicants to fill out S-1 forms to begin trading on the three exchanges, including CBOE, NYSE ARCA, and NASDAQ.</a></li>
 <li>3 <a>Analysts expect the process to conclude in 2-3 months.</a></li>
</ul>
After the 19b-4 form approval of eight spot Ethereum ETF applicants, the community eagerly awaits the S-1 form approval. However, traders need to wait for at least a few weeks to 2-3 months to begin trading.
Applicants like BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy, and Franklin Templeton are preparing for the final approval.
<h2 class="wp-block-heading" id="strong-when-exactly-will-ethereum-etfs-go-live-strong">When Exactly Will Ethereum ETFs Go Live?</h2>
The approval of the 19b-4 form for the Spot Ethereum ETF was widely misinterpreted as the final step before the ETF gets listed on exchanges. However, to offer spot Ethereum ETFs, the applicants must get their S-1 form approved by the agency.
Nate Geraci, president of ETF Store took to X to correct crypto enthusiasts’ misunderstanding and shared a tentative timeline for the final approval.
<center>
 <blockquote class="twitter-tweet">
 When will SEC approve spot eth ETF registration statements? *Nobody* knows for sure, but my expectation would be next few weeks. 2-3 months max. IMO, heavy lifting already done following spot btc ETFs &amp; eth futures ETFs. Just a matter of how long SEC wants to string this out.— Nate Geraci (@NateGeraci) <a href="https://twitter.com/NateGeraci/status/1795255561753424157?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 28, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</center>
According to Geraci, the final approval would take place within 2-3 months at most. Initial Model Offering (IMO) is already done following spot <a href="https://www.thecoinrepublic.com/2024/04/29/australias-securities-regulator-likely-to-approve-spot-bitcoin-etfs/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin ETFs</a> and Ethereum futures ETFs.
It also depends on the agency as to how long it wants to string this out, Geraci added.&nbsp;
In the same way, James Seyffart, ETF analyst at Bloomberg also made comments on the final approval of the ETFs.
<center>
 <blockquote class="twitter-tweet">
 TO BE CLEAR: This does not mean they will begin trading tomorrow. This is just 19b-4 approval. Also needs to be an approval on the S-1 documents which is going to take time. We’re expecting it to take a couple weeks but could take longer. Should know more within a week or so!— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1793752733763445043?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 23, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</center>
Approval of the S-1 documents will take a couple of weeks, afterwards, individuals can begin their spot Ethereum ETF trading.&nbsp;
<h3 class="wp-block-heading" id="strong-market-correction-amid-realization-that-it-s-a-partial-approval-strong">Market Correction Amid Realization that it’s a Partial Approval</h3>
SEC’s approval is a big win per se, however, the community may not exactly have that kind of patience. Chalexov.eth, responded to Geraci’s comment by tweeting that astrology guys know when it is best.
<center>
 <blockquote class="twitter-tweet">
 July 4th feels like a good over/under— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1795258410260373769?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 28, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</center>
According to Eric Balchunas, Senior ETF analyst at Bloomberg, July 4 could be a day for the spot Ethereum ETF’s final approval.
<h3 class="wp-block-heading" id="strong-eth-is-in-a-bullish-phase-strong">ETH is in a “Bullish Phase”</h3>
The spot Ethereum ETF is not live yet, but ETH sure is basking under the attention. At press time, ETH was hovering at $3,873.61, after a 0.99% intraday drop with the current market cap of $465,141,947,063.&nbsp;
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/6vffFBqcMSKer9DyYhxG3QRMSfBI5Ym0Hq7Jn59z1WwX37nO_iA3mfxfPw4Nk_UFTMhU6pcIJ9pV1_c5APdSmfJKzC-Dhff0jtCxkw96DE3hC-O1yG8g2o_Q8e2fCt-SoK3sBxECIJ_3n2dU4WCI85U" alt="">
 </figure>
</div>
ETH Price I Source: CoinMarketCap
In the past 7 days, ETH value surged from $3,680.08 on May 21 to hit its high of $3,931 on May 23. Moreover, on May 27, ETH touched $3,957.45 before a drop.

ETH (Ethereum) Spot ETF To Go Live On Exchanges On This Date…

Table of Contents

Thecoinrepublic.com

Other articles published on May 28, 2024

Riot Platforms Makes Bold Bid to Acquire Bitfarms

Halving Woes Already Over? Bitcoin Hashrate Smashes All-Time High

Why Bitcoin might drop to $65k before getting back to ATH

The Sandbox Unveils Sandbox DAO, Plans to Transform Community Governance in Decentralized Gaming

Bitcoin, Ethereum, Dogecoin Down With Holiday Weekend Blues, But 'Market Looks About To Bounce, A...

Top 3 Cryptocurrency Picks Under $1 Poised for a 100X Price Leap

Join our free newsletter for daily crypto updates!