🔵 The U.S. Securities and Exchange Commission (SEC) has informed potential issuers of a spot ether (ETH) exchange-traded fund (ETF) that trading may begin on Tuesday, July 23, according to sources familiar with the matter.
🔵 Bloomberg Intelligence’s senior ETF analyst Eric Balchunas was the first to report the development on social media. Issuers submitted revised S-1 documents last week, though they have yet to disclose certain details, including the management fee they plan to charge investors. Only a few issuers, including VanEck and Invesco Galaxy, have revealed their fees so far.
🔵 Following the market launch, spot ether ETFs could see inflows of up to $5 billion in the first six months, according to cryptocurrency exchange Gemini. Steno Research predicts an influx of up to $20 billion in the first year.