ETF launch on Ethereum is scheduled for early July 2024

Exchange traded funds (ETFs) on Ethereum could become available for trading as early as July.

Eric Balchunas of the US Securities and Exchange Commission (SEC) advised that the SEC's comments on the preliminary S-1 statements were relatively minor and any necessary clarifications are now expected to be made within the next week.

Balchunas suggested that the SEC could complete its analysis of these statements before the start of the long holiday weekend, emphasizing that this assumption is the most reasonable at the moment.

Nate Geraci, president of ETF Store, confirmed the logical nature of the update, noting that it indicates the bulk of the work has been completed and there is no reason for further delays.

Such prospects suggest that Ethereum spot ETFs could hit the market ahead of the deadline previously outlined by SEC Chairman Gary Gensler. Gensler, speaking before the Senate Appropriations Committee on June 13, mentioned a summer deadline for the launch of approved financial instruments, without specifying specific dates.

Spot ETFs will give investors the opportunity to trade funds based on the second-largest digital asset on the market by market capitalization. Expert opinions are divided: some believe that this innovation contributes to the growth of institutional interest in Ethereum, while others express doubts about the demand for Ethereum ETFs compared to Bitcoin ETFs, citing the lack of staking capabilities.