Ethereum ETFs to begin trading on July 23 following preliminary SEC approval

By Esther Agbo

The eagerly anticipated spot Ethereum Exchange Traded Funds (ETFs) are scheduled to commence trading on July 23, following the United States Securities and Exchange Commission (SEC) granting preliminary approval to several proposed issuers.

The SEC, led by Gary Gensler, has given initial approval to three out of eight asset managers planning to launch Ethereum ETFs to their clients. These three asset managers are Blackrock, VanEck, and Franklin Templeton, with the condition that they submit final offering documents to regulators by the end of the week.

All eight Ethereum ETF issuers are expected to launch simultaneously. Other issuers, including Fidelity, ARK 21Shares, Grayscale, Bitwise, and Invesco Galaxy, are also anticipated to receive their preliminary approval from the SEC before the proposed trading date.

The Senior Bloomberg ETF Analyst, Eric Balchunas, confirmed the July 23 trading date via a post on X, stating that the SEC had requested all issuers to submit their final S-1 filings by Wednesday in preparation for the launch, Eric tweeted, “Update, Nate’s instincts were right, hearing SEC finally gotten back to issuers today, asking them to return FINAL S-1s on Wed (incl fees) and then request effectiveness on Monday after close for a TUESDAY 7/23 LAUNCH. This is provided with no unforeseeable last-minute issues of course.

Bitwise’s Chief Investment Officer, Matt Hougan, previously predicted that Ethereum ETFs could attract up to $15 billion in net inflows within the first 18 months of trading, similar to the success of Bitcoin ETFs launched in January. Hougan also expects the S-1 filings to be approved next Monday after trading hours, setting the stage for the July 23 launch.

Once approved, the spot Ethereum ETFs will be listed on the Nasdaq, New York Stock Exchange, and Chicago Board Options Exchange. Ethereum will become the second cryptocurrency to have an exchange-traded fund in the United States, following Bitcoin ETFs were launched in January./  There is also speculation about a potential Solana ETF launch later this year.

An S-1 filing is a registration statement filed with the SEC when a company intends to go public and issue shares on a stock exchange. The SEC has completed the first phase of Ethereum ETF approval by approving the 19b-4 filings in May.