SEC Clears Way for Spot Ether ETFs to Start Trading

The Securities and Exchange Commission (SEC) has given the green light for spot ether (ETH) exchange-traded funds (ETFs) to begin trading next Tuesday, sources confirmed on Monday.

SEC officials informed one issuer that the regulator had no further comments on the recently submitted S-1 filings. Final versions must be submitted by Wednesday. Once approved, the funds can list on exchanges starting Tuesday, July 23. Another source indicated that trading could begin as early as Tuesday, after the ETFs are deemed effective on Monday.

Issuers, including VanEck and Invesco Galaxy, submitted amended S-1 documents last week. They have yet to disclose full details, such as management fees. Only a few issuers have revealed their fees so far.

Crypto exchange Gemini predicts that the spot ether ETFs could attract up to $5 billion in inflows within the first six months. Steno Research expects up to $20 billion in inflows during the first year. Following the news, ether’s price rose 7.3% on Monday, surpassing bitcoin’s 6% gain.

Bloomberg Intelligence senior ETF analyst Eric Balchunas first reported the development on Elon Musk owned social media platform X.