NEW: Spot Ether ETFs Set to Begin Trading Next Week, SEC Indicates Approval

The Securities and Exchange Commission (SEC) has informed prospective issuers of spot ether (ETH) exchange-traded funds (ETFs) that trading can commence next Tuesday, July 23. According to sources familiar with the matter, SEC officials indicated that no further comments were needed on the recently submitted S-1 filings, with final versions due by Wednesday. This milestone marks the ETFs as effective next Monday, paving the way for trading to begin the following day.

Bloomberg Intelligence senior ETF analyst Eric Balchunas initially reported this development on social media. While the issuers have submitted amended S-1 documents, details such as management fees remain undisclosed, though VanEck and Invesco Galaxy have revealed their fees. Crypto exchange Gemini predicts that the spot ether ETFs could attract inflows of up to $5 billion in the first six months, with Steno Research forecasting potential inflows of up to $20 billion in the first year.

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