US Securities Regulators May Approve Ethereum Spot ETF as Early as July 4

The launch of a spot exchange-traded fund (ETF) for Ethereum, the second-largest cryptocurrency by market capitalization, is imminent.

According to major foreign media on the 26th (local time), the U.S. Securities and Exchange Commission (SEC) is expected to approve the launch of the Ethereum spot ETF as early as July 4.

Currently, eight asset management companies including BlackRock, VanEck, Franklin Templeton, and Grayscale Investments have each applied to the SEC for approval to launch an Ethereum spot ETF. Earlier, the SEC surprised the market by approving the listing review request (19B-4) for the Ethereum spot ETF on June 23, raising expectations that these ETFs could be launched. If the Ethereum spot ETF is approved, it will become the second cryptocurrency spot ETF following the Bitcoin spot ETF launched in January.

The market's focus is on the price direction of Ethereum. Since the beginning of this month, Ethereum's price has fallen by more than 11%, creating a strong demand among investors for momentum that could reverse this trend.

However, many cryptocurrency and ETF experts believe that the approval of the Ethereum spot ETF will be less impressive compared to the Bitcoin spot ETF approval. This is due to the significant difference in market capitalization and trading volume between Bitcoin and Ethereum. According to investment analysis firm Morningstar Direct, Bitcoin spot ETFs raised about $8 billion (approximately 11 trillion KRW) upon their launch in January this year and are considered the most successful ETF products.