{"id":564095,"date":"2023-12-06T08:35:07","date_gmt":"2023-12-06T08:35:07","guid":{"rendered":"https:\/\/wncen.com\/?p=564095"},"modified":"2023-12-06T08:26:50","modified_gmt":"2023-12-06T08:26:50","slug":"bloomberg-experts-timeline-ethereum-etf","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bloomberg-experts-timeline-ethereum-etf\/","title":{"rendered":"Bloomberg Experts Forecast Timeline For Spot Ethereum ETF Approval"},"content":{"rendered":"

The journey towards the approval of an Ethereum ETF in the United States has seen a new development yesterday as the US Securities and Exchange Commission (SEC) has announced a delay in the decision for Grayscale’s Ethereum trust conversion into a spot Exchange Traded Fund (ETF). The SEC has stated the need for an extended period to evaluate the proposed rule change<\/a>, pushing the new deadline Grayscale to January 25, 2024.<\/p>\n

In its reasoning, the SEC has reiterated, “The commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein.” Notably, the delay comes at a time where the US agency is working with now 13 spot Bitcoin ETF applicants on presumably the final amendments before a January 10 approval.<\/p>\n

Timeline For A Spot Ethereum ETF Approval<\/h2>\n

Despite the latest delay, the crypto community remains optimistic<\/a> about the future of spot Ethereum ETFs. Bloomberg ETF analyst James Seyffart has suggested that delays are par for the course, tweeting, \u201cUpdate: As expected Grayscale’s Ethereum trust filing just got delayed. It was due by 12\/6\/23 so this is completely normal.\u201d<\/p>\n

Seyffart also shared a table of all seven spot Ethereum ETF applicants: VanEck, 21Shares & ARK, Hashdex, Grayscale, Invesco & Galaxy, BlackRock<\/a>, Fidelity and their deadlines. He further hinted<\/a> at potential approvals by mid-2024, responding to criticisms from Adam Back, CEO of Blockstream, with \u201cUnfortunately I think you’re gonna be really upset by June of next year.\u201d<\/p>\n

\"Spot
Spot Ethereum ETF timeline | Source: X @JSeyff<\/a><\/figcaption><\/figure>\n

In response to queries about the probability of an Ethereum ETF approval following a Bitcoin ETF, Eric Balchunas of Bloomberg has indicated that the first filers, Ark and VanEck, have strong odds of approval by their final deadline on May 23, 2024, as they are expected to use the same mechanics as spot Bitcoin ETFs, and due to the fact that Ether futures have already received the green light from the US SEC.<\/p>\n

Related Reading: Ethereum At $2,200 Is \u201cHilarious\u201d; Is A 10X Incoming?<\/a><\/div>\n

Queried about for the odd of a spot Ethereum ETF approval, he remarked<\/a>, \u201cNot formally yet, but final deadline for the first filers Ark and VanEck is May 23rd so strong odds they approved by then given they’d be using same design as btc etfs and ether futures were Ok’d.”<\/p>\n

The Next Deadlines<\/h2>\n

The table by Seyffart shows that the next Ethereum ETF deadlines are from December 23 to 26 for VanEck, Ark Invest and Invesco & Galaxy, followed by Hashdex on January 1. Since a spot Bitcoin ETF is very unlikely<\/a> to be approved by then, delays by the SEC are more than likely for this batch of filings.<\/p>\n

Related Reading: Crypto Analyst Says It\u2019s \u201cNot Too Late\u201d To Buy Ethereum, Here\u2019s Why<\/a><\/div>\n

Both iShares by BlackRock and the Fidelity Ethereum Fund have their next deadlines on January 25 and January 21, 2024 respectively. These dates are crucial as they could involve either an extension, a request for more information, or a final decision.<\/p>\n

But things only get really tense towards the final deadlines for all Ethereum ETF filers, as outlined by both Bloomberg ETF experts. With VanEck poised for May 23, 2024, and ARK Invest for May 24, 2024 and other notable filers like Hashdex Nasdaq Ethereum ETF and Grayscale’s Ethereum Trust Conversion (ETHE) scheduled for decisions by May 30, 2024, and June 18, 2024, respectively, the timeline for potential approvals is taking shape.<\/p>\n

At press time, ETH traded at $2,271.<\/p>\n

\"Ethereum
ETH price targets the 0.382 Fib, 1-week chart | Source: ETHUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image from Shutterstock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The journey towards the approval of an Ethereum ETF in the United States has seen a new development yesterday as the US Securities and Exchange Commission (SEC) has announced a delay in the decision for Grayscale’s Ethereum trust conversion into a spot Exchange Traded Fund (ETF). The SEC has stated the need for an extended period to evaluate the proposed rule change, pushing the new deadline Grayscale to January 25, 2024. In its reasoning, the SEC has reiterated, “The commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein.” Notably, the delay comes at a time where the US agency is working with now 13 spot Bitcoin ETF applicants on presumably the final amendments before a January 10 approval. Timeline For A Spot Ethereum ETF Approval Despite the latest delay, the crypto community remains optimistic about the future of spot Ethereum ETFs. Bloomberg ETF analyst James Seyffart has suggested that delays are par for the course, tweeting, \u201cUpdate: As expected Grayscale’s Ethereum trust filing just got delayed. It was due by 12\/6\/23 so this is completely normal.\u201d Seyffart also shared a table of all seven spot Ethereum ETF applicants: VanEck, 21Shares & ARK, Hashdex, Grayscale, Invesco & Galaxy, BlackRock, Fidelity and their deadlines. He further hinted at potential approvals by mid-2024, responding to criticisms from Adam Back, CEO of Blockstream, with \u201cUnfortunately I think you’re gonna be really upset by June of next year.\u201d In response to queries about the probability of an Ethereum ETF approval following a Bitcoin ETF, Eric Balchunas of Bloomberg has indicated that the first filers, Ark and VanEck, have strong odds of approval by their final deadline on May 23, 2024, as they are expected to use the same mechanics as spot Bitcoin ETFs, and due to the fact that Ether futures have already received the green light from the US SEC. Related Reading: Ethereum At $2,200 Is \u201cHilarious\u201d; Is A 10X Incoming? Queried about for the odd of a spot Ethereum ETF approval, he remarked, \u201cNot formally yet, but final deadline for the first filers Ark and VanEck is May 23rd so strong odds they approved by then given they’d be using same design as btc etfs and ether futures were Ok’d.” The Next Deadlines The table by Seyffart shows that the next Ethereum ETF deadlines are from December 23 to 26 for VanEck, Ark Invest and Invesco & Galaxy, followed by Hashdex on January 1. Since a spot Bitcoin ETF is very unlikely to be approved by then, delays by the SEC are more than likely for this batch of filings. Related Reading: Crypto Analyst Says It\u2019s \u201cNot Too Late\u201d To Buy Ethereum, Here\u2019s Why Both iShares by BlackRock and the Fidelity Ethereum Fund have their next deadlines on January 25 and January 21, 2024 respectively. These dates are crucial as they could involve either an extension, a request for more information, or a final decision. But things only get really tense towards the final deadlines for all Ethereum ETF filers, as outlined by both Bloomberg ETF experts. With VanEck poised for May 23, 2024, and ARK Invest for May 24, 2024 and other notable filers like Hashdex Nasdaq Ethereum ETF and Grayscale’s Ethereum Trust Conversion (ETHE) scheduled for decisions by May 30, 2024, and June 18, 2024, respectively, the timeline for potential approvals is taking shape. At press time, ETH traded at $2,271. Featured image from Shutterstock, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":564096,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[8323,16163,1946,10384,6931,3799,89986],"class_list":["post-564095","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-eth","tag-eth-price","tag-ethereum","tag-ethereum-etf","tag-ethereum-price","tag-sec","tag-spot-ethereum-etf"],"acf":[],"yoast_head":"\nBloomberg Experts Forecast Timeline For Ethereum ETF Approval<\/title>\n<meta name=\"description\" content=\"According to Bloomberg experts James Seyffart and Eric Balchunas, a spot Ethereum ETF is likely to be approved by May 23, 2024.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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Through his extensive work with wncen.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/wncen.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bloomberg Experts Forecast Timeline For Spot Ethereum ETF Approval","url":"http:\/\/wncen.com\/news\/bloomberg-experts-timeline-ethereum-etf\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bloomberg-experts-timeline-ethereum-etf\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/shutterstock_1392187970.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/shutterstock_1392187970.jpg?fit=5000%2C2813"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","eth price","ethereum","ethereum etf","ethereum price","sec","spot ethereum etf"],"dateCreated":"2023-12-06T08:35:07Z","datePublished":"2023-12-06T08:35:07Z","dateModified":"2023-12-06T08:35:07Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bloomberg Experts Forecast Timeline For Spot Ethereum ETF Approval\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bloomberg-experts-timeline-ethereum-etf\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bloomberg-experts-timeline-ethereum-etf\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/shutterstock_1392187970.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/shutterstock_1392187970.jpg?fit=5000%2C2813\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"eth price\",\"ethereum\",\"ethereum etf\",\"ethereum price\",\"sec\",\"spot ethereum etf\"],\"dateCreated\":\"2023-12-06T08:35:07Z\",\"datePublished\":\"2023-12-06T08:35:07Z\",\"dateModified\":\"2023-12-06T08:35:07Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/shutterstock_1392187970.jpg?fit=5000%2C2813","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/564095"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=564095"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/564095\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/564096"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=564095"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=564095"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=564095"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}