Ethereum ETF Approval Delayed Until July 8

Analysts were anticipating the approval of Ethereum spot ETFs by July 2, but the launch has been delayed. The U.S. Securities and Exchange Commission (SEC) has requested issuers to submit revised filings by July 8, pushing back the expected approval date. The SEC needs to review and approve the S-1 forms before the spot Ethereum ETFs can be launched, following the approval of the 19b-4 forms in May. To attract institutional investments, ETF issuers have announced fee waivers for their spot Ethereum funds. Franklin Templeton and VanEck have disclosed their sponsor fees, with waivers for a certain amount of assets for a limited time. BlackRock and Fidelity have yet to disclose their fees. Analysts believe that Ethereum’s potential in various sectors like finance, supply chain, and technology could attract institutional investors. The launch of the ETF is expected to trigger a modest rally, but there may also be a ‘sell the news’ sentiment prevailing in the market.