The cryptocurrency industry has once again received positive news. According to two informed sources, the US Securities and Exchange Commission informed potential issuers of the Ethereum ETF on Monday that the fund is expected to begin trading in the US market next Tuesday.
One of the sources said that SEC officials told an issuer that regulators have no further recommendations on the recently submitted S-1 document, and the final version needs to be submitted by Wednesday. The Ethereum ETF may then be listed on the US exchange on July 23rd.
The second source also stated that the Ethereum ETF will be listed after the market closes next Monday and begin trading on Tuesday.
After the SEC approved the key documents for the listing of the Ethereum ETF at the end of May, the market expects the fund's listing to have entered its final stage. The approval of the applicant's S-1 document by regulatory authorities is the final step.
The next capital darling?
Since the approval of spot Bitcoin ETFs by the United States in January this year, multiple financial institutions have been fiercely competing for the qualification to issue Ethereum ETFs. This fund allows investors to bet on the direction of Ethereum prices without directly holding Ethereum, reducing trading difficulty.
The impressive performance of Bitcoin ETFs this year is also an important reference for investment markets to bet on Ethereum ETFs. As of July 12th, the Bitcoin ETF has accumulated a net inflow of $15.8 billion, with a record high daily net inflow of $1.05 billion. This has prompted financial institutions including BlackRock and Fidelity to work hard to persuade the SEC to launch Ethereum ETFs as soon as possible.
According to the latest report, analysts believe that after the highly anticipated Ethereum ETF is launched in the United States, Ethereum's performance may surpass Bitcoin.
It points out that due to the low market liquidity of Ethereum and the fact that Ethereum reserves are almost entirely supported by the Ethereum exchange, at their lowest level in many years, when institutional demand surges, it will immediately affect the price of Ethereum, causing it to rise sharply.
Institutional investor Tom Dunleavy predicts that Ethereum ETFs will rapidly grow at a rate of approximately $1 billion per month, eventually reaching a size of $10 billion.