Bloomberg’s senior ETF analyst, Eric Balchunas, stated today (29th) that he has heard the Ethereum spot ETF is no longer likely to be approved and listed next week, with the expected launch date now pushed back to after July 8.
Recent market news suggests that the approval process for the Ethereum spot ETF has entered its final stages. Eric Balchunas, a Bloomberg ETF analyst who accurately forecasted the launch dates for Bitcoin futures/spot ETFs, has now delayed his estimated listing date from July 2 to after July 8.
This morning, Balchunas posted on platform X:
The SEC requires issuers to submit updated S-1 filings by 7/8.
The Block also reported today, citing sources, that the SEC has returned the S-1 form to potential issuers of the Ethereum spot ETF with some comments attached, requesting them to address the issues and resubmit the documents. The issuers have been asked to respond to these comments and submit updated filings by July 8.
Sources indicate that these filings will need to undergo at least one more round of reviews before being approved, after which the Ethereum spot ETF can begin trading.
Ethereum falls below $3,400
Regarding the progress of the Ethereum spot ETF approval, SEC Chairman Gary Gensler only revealed this month that progress is smooth. He expects the SEC to approve the final S-1 filings “at some point this summer.”
In terms of price, ETH briefly rose above $3,487 yesterday, but experienced a decline yesterday evening and dropped to a low of $3,365 early today. At the time of writing, it is trading at $3,391, marking a 1.3% decrease in the past 24 hours.