- Nate Geraci believes the SEC will approve the spot Ethereum ETF in a few months.
- July or August is when former SEC Chairman Jay Clayton projects Ethereum ETF trading.
ETF Store president Nate Geraci said it is still unclear when the U.S. Securities and Exchange Commission (SEC) will accept the spot Ethereum ETF registration statement.
Geraci said that the approval might be granted in the following weeks or, at most, in two to three months. It now simply depends on how long the SEC wants to postpone, he said. As early as July or August, former SEC Chairman Jay Clayton conjectured, trading may start.
When will SEC approve spot eth ETF registration statements?
*Nobody* knows for sure, but my expectation would be next few weeks.
2-3 months max.
IMO, heavy lifting already done following spot btc ETFs & eth futures ETFs.
Just a matter of how long SEC wants to string this out.
— Nate Geraci (@NateGeraci) May 28, 2024
Current Ethereum Price and Market Sentiment
CoinGecko data indicates that Ether (ETH) is currently valued at about $3,846.92. In the previous 24 hours, this is a 2.19% drop. Notwithstanding the most recent decline, ETH has increased by 4.40% in the last week, indicating a bullish trend. The way the market is now, investors are cautiously optimistic while they wait for the SEC’s ruling.
In line with what ETHNews previously disclosed, DeFiance Capital analyst Arthur recently estimated that before the spot Ethereum ETF starts trading, Ethereum’s price may hit $4,500.
This estimate fuels the increasing expectation of possible ETF approval and how it will affect Ethereum’s market performance.
Community Opinions on XRP ETF
In related news, 66.1% of respondents to a recent poll said they support an XRP ETF by 2025, while 33.9% disagreed or said “No.”
Will there be an XRP ETF in 2025 ?
— Vet ???? (@Vet_X0) May 24, 2024
This survey indicates the desire of the larger cryptocurrency community to see ETF offerings expanded beyond Ethereum to include other significant digital assets like XRP. The SEC approving the spot Ethereum ETF is still a much awaited event in the cryptocurrency world.
