The US Securities and Exchange Commission (SEC) is expected to approve new amendments to Ethereum spot ETFs by July 4. Eight asset managers, including BlackRock, Franklin Templeton and Grayscale Investments , is in the final stages of discussions with the SEC. Many of these companies launched spot Bitcoin ETFs in January. Grayscale is looking to convert existing trusts into ETFs.
Executives of the two companies involved said the process of adjusting the documents had progressed significantly, with only minor issues remaining to be resolved. Approval is expected to be completed in a week or two, in line with Bloomberg ETF analyst Eric Balchunas’ prediction that a spot Ethereum ETF could be approved before July 2.
Despite the speculation about the launch date, the SEC and Chairman Gary Gensler have remained silent. In an interview with Bloomberg, Gensler expressed optimism about approving ETFs but did not provide a specific timeline, suggesting only that they could be operational by the summer. The SEC has approved Form 19b-4 and is currently working with issuers on S-1 filings.
Bitwise predicts that Ethereum spot ETFs will attract more than $15 billion in inflows within the first 18 months. Bitwise CIO Matt Hougan estimates based on Bitcoin ETF data and Ethereum’s market cap relative to Bitcoin. Bitcoin’s current market cap is around $1.26 trillion and Ethereum’s is $432 billion. Nearly $56 billion of Bitcoin’s market cap is invested in U.S. Bitcoin spot ETFs, a figure that is expected to grow to $100 billion by the end of 2025.
