President of the financial company ETF Store Nate Geraci Predicts Ethereum ETF Trading in the US to Begin by August 2024
President of the financial company ETF Store Nate Geraci predicts that Ethereum (ETH) ETF shares will begin trading in the United States by the end of August 2024. In an interview, Geraci noted that while the exact date of approval for Ethereum ETF documents by the US Securities and Exchange Commission (SEC) is unknown, he expects it to happen in the coming weeks or at most two to three months.
According to Geraci, the main work for launching an ETF based on Ethereum has already been done thanks to previous approvals of spot Bitcoin ETFs and Ethereum futures ETFs. It is expected that the SEC will approve the documents without significant delays, but predicting the exact timing is difficult.
On May 23, the SEC approved eight applications to create Ethereum ETFs, however, the fund issuers still cannot start trading as they need to register their ETFs by filing Form S-1 and submitting it to the commission.
Bloomberg analyst Eric Balchunas expressed hope that the documents will be approved by July 4, Independence Day in the United States. If this happens, the final barrier to trading Ethereum ETFs will be eliminated, and fund shares will be able to appear on exchanges.
However, another Bloomberg analyst, James Seyffart, is more skeptical. In his opinion, the approval process for Form S-1 could take five months or more, which could delay the launch of Ethereum ETF trading.
Thus, while optimistic forecasts suggest the launch of Ethereum ETFs in August, the final approval by the SEC and its implementation timeline remain uncertain.
