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Ether ETFs Could Come to Market Soon

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.

Tweet on Ether’s ETF’s trading speculation

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.

Source:WSJ /Coindesk