Yahya 
At least three asset managers for their spot Ether exchange-traded funds (ETFs) have apparently received preliminary permission from the United States Securities and Exchange Commission (SEC), hence stoking anticipation that these ETFs would start trading as early as next Tuesday.
Final Steps for Approval
A July 15 Reuters story claims that applicants turning in final offering documentation to the SEC by the end of this week will now determine whether or not the SEC approves. BlackRock, Franklin Templeton, and VanEck among others are among the candidates. Other companies vying to introduce their Ether products next week include Fidelity, ARK 21Shares, Grayscale, Bitwise, and Invesco Galaxy.
Like with the SEC’s handling of the spot Bitcoin ETFs, one industry source told Reuters all eight spot Ether ETFs are likely to debut concurrently.
SEC’s Final Instructions
With all applicants obliged to declare the cost related to their spot Ether ETFs, Bloomberg ETF analyst Eric Balchunas pointed out that the SEC has directed issuers to provide their final S-1 filings by July 16. After trading hours conclude, he expects the SEC to formally approve the S-1s next Monday, therefore enabling the spot Ether ETFs to begin trading on Tuesday, July 23.
Industry Anticipation
With less concerns being checked back and forth between issuers and the SEC, bitwise’s chief compliance officer, Katherine Dowling, said the process is almost over. “That then points all the way in our direction of proximity. On the launch, we are almost at the finish line, Dowling remarked on July 9.
Like the spot Bitcoin ETFs which have attracted notable interest since its inception, Bitwise’s chief investment officer Matt Hougan projected that the spot Ether ETFs might draw in close to $15 billion in inflows in the first 18 months of operation.
Should authorized, the location Ether ETFs would be listed on the Chicago Board Options Exchange, Nasdaq, and New York Stock Exchange.
Reflecting the market’s expectation of the ETF debut and the possible flood of institutional investment, ether is trading at $3,414, up 3.6% over the previous 24 hours.
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