- Major financial firms like Fidelity and BlackRock have updated their Spot Ethereum ETF filings in compliance with the SEC July 8 deadline.
- Ethereum’s price remains stable above US$3,000 following positive regulatory developments and expectations of ETF approvals.
- Future ETF prospects for altcoins like Solana, Cardano, and XRP depend on upcoming political and regulatory changes.
The Spot Ethereum exchange-traded fund (ETF) saga goes into the next round. All applicants have now updated their S-1 filings: Fidelity, VanEck, Franklin Templeton, 21Shares, Grayscale and BlackRock.
Related: Republican Platform Promises to Halt ‘Un-American’ Crypto Crackdown, Opposes Government Digital Currency
These have been filed according to the request by the Securities and Exchange Commission (SEC) which had asked to stick to the deadline of July 8.
The filings do not include details related to fees, as the SEC has informed issuers that these are not needed yet. Senior ETF analyst Eric Balchunas said there shouldn’t be too much back-and-forth from now on – with trading to start soon.
They will give guidance back to issuers soon along with the game plan. Then the docs will come back with fees (and every other blank) filled [in] and then it’s go-time.
![](https://cdn.cryptonews.com.au/2024/03/11142005/EricBalchunas.jpg)
![](https://cdn.cryptonews.com.au/2024/03/11142005/EricBalchunas.jpg)
Ethereum Price Holds Above US$3K Mark
Meanwhile, the price of the second-largest crypto by market cap has remained steady at over US$3K (AU$4.5K) since the most recent overnight dip. The current price is a solid 6.4% increase from yesterday.
The price of ETH seems tied to any news around these funds, with many observers firmly expecting a launch without further delays. The odds of the funds being approved increased dramatically last month when the SEC dropped an investigation about ETH’s status as a security.
President of ETF Store, Nate Geraci, said he would be shocked if these funds are not trading within the next two weeks, eyeing July 15 for the first trading day.
Other Altcoin ETFs Next? Chances of Solana, Cardano and XRP
With the Ethereum ETFs done and dusted – going by the experts at least – the next likely candidates for a fund are probably Solana, Cardano and XRP. VanEck and 21Shares have applied for a US listing of these funds and there has been talk around Cardano and XRP to also get a listing.
However, many observers are highly doubtful if any of this is happening in the near future. If President Joe Biden remains in office – which is still out in the open given his recent shaky public appearances – some believe any such request for a fund for SOL, XRP or ADA will be shot down.
Related: Defying Market Fears, Notcoin and Celestia Rally, with TIA Gaining 27%
Others are hopeful that if elected, self-proclaimed crypto-president Donald Trump could fix the broken relationship between the US-crypto sector and the US Government. Only time will tell whether that expectation will be fulfilled.
Source:
https%3A%2F%2Fcryptonews.com.au%2Fnews%2Ffinal-approval-of-spot-ethereum-etf-expected-to-enable-trading-next-week-following-multiple-amended-s-1-filings-122015%2F