ETF Store president: Ethereum spot funds could be approved July 15

According to the top manager, several factors speak in favor of this forecast.

First of all, Geraci pointed out that Bloomberg analysts forecast the launch of spot ETH-ETFs in mid-July. He further noted that the SEC has commented on potential issuers' Form S-1 filings to register new securities and has asked for the 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. Approval of Forms S-1 to register fund units 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 the ETH-ETF to be approved soon.

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