Spot Ethereum ETFs likely to launch July 23: Sources

Spot Ethereum ETH +6.74% ETFs will likely begin trading on Tuesday, July 23, according to multiple sources.

After Bloomberg Senior ETF Analyst Eric Balchunas posted on social media site X naming July 23 as the launch date, sources at two issuers confirmed to The Block the information in Balchunas's post.

"Hearing SEC finally gotten back to issuers today, asking them to return final S-1s on Wed (incl fees)," Balchunas posted on X Monday. "And then request effectiveness on Monday after close for a Tuesday 7/23 launch."

Wall Street heavyweights like BlackRock and Fidelity have been working with the U.S. Securities and Exchange Commission for weeks, hoping to launch their spot ether ETFs as soon as possible.  The new financial instruments have been slowly approaching a likely launch in the U.S. after the SEC approved in late May key regulatory filings from applicants. However, before the new products can be traded on exchanges, the regulator must also approve the applicants' S-1 filings.

Ever since the successful launch of spot bitcoin ETFs in January, a host of financial institutions have been trying to secure approval for an exchange-traded fund that allows investors to wager on the price of Ethereum without having to buy the cryptocurrency directly.