Ether ETFs Could Come to Market Soon

Jun 17, 2024 thejournalbiz

The first batch of exchange-traded funds that directly hold ether could start trading this summer, Securities and Exchange Commission Chair Gary Gensler told lawmakers last week.

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Ethere's first batch of exchange-traded funds that directly hold ether could start trading this summer.#ether #crypto #etfs pic.twitter.com/oEyKxOYjty

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Kraken chart, ether

“Individual issuers are still working through the registration process, and that’s working smoothly,” Gensler said at a hearing on Thursday.

The SEC approved stock exchanges’ applications to list the so-called spot ether ETFs in May, but it hasn’t approved individual issuers’ S-1 filings to launch the specific funds.

Bloomberg Intelligence analyst Eric Balchunas said he now expects the launch date of the ether ETFs to be July 2.

Ether, the second-largest cryptocurrency, was trading at $3,505 at noon Monday, down about 2% from its level 24 hours ago, according to CoinDesk data.