Investing.com – The U.S. Securities and Exchange Commission (SEC) signaled on Monday that approval of exchange-traded funds (ETFs) will likely come on July 22, industry experts said.
US regulators have reportedly informed at least three of the eight companies that they will likely receive final approval to launch these fresh products next Tuesday, July 23. The information comes from three sources in the industry.
Industry insiders said regulators have instructed them to file final offering prospectuses by the end of this week. If those filings meet the required criteria, the SEC is expected to give issuers a formal “effective date” for the fresh products on Monday, July 22.
Eric Balchunas, senior ETF analyst at Bloomberg, reported on the social media platform X that the launch of fresh spot Ether ETFs is planned for July 23.
According to Balchunas’ post, the SEC has now responded to issuers by ordering them to return final S-1 filings, including fees, by Wednesday. The regulator is expected to issue the effective date Monday after the market closes, paving the way for an expected Tuesday launch.
Major players on Wall Street including BlackRock Inc (NYSE:) and Fidelity National Financial Inc. (NYSE:) has been in talks with the SEC for weeks with the goal of bringing its spot Ether ETFs to market as soon as possible.
New financial products are inching closer to a possible U.S. launch after the SEC approved key regulatory filings from applicants in delayed May. But before these fresh offerings can trade on exchanges, the SEC must also approve the applicants’ S-1 filings.
The demand for Ether ETFs comes after the successful launch of spot ETFs in January. Since then, numerous financial institutions have been seeking the green airy to introduce ETFs, which allow investors to speculate on the price of ‘s without having to directly purchase the cryptocurrency.
