A senior analyst at Bloomberg Intelligence said spot Ethereum ETFs are likely to launch on July 18. The expert claims that issuers such as VanEck and 21Shares have already updated their S-1 filings.

Eric Balchunas assured that the process of reviewing issuers’ applications, albeit slowly, is moving forward, and the chances of a rejection by the Securities and Exchange Commission (SEC) are practically zero. However, the analyst called for taking into account the bureaucratic sluggishness of the main regulatory agency:

“We don’t know what the Commission’s game plan is, but if I were asked about the launch date, I would say July 18, 2024.”

Bitwise Asset Management made a number of changes to its S-1 filing, and so have Fidelity, Franklin, Grayscale and BlackRock.

According to the analyst, the launch of the ETH ETF will be a catalyst for the growth of the price of Ether beyond its current level, attracting additional funds to the crypto market, as has already happened after the appearance of spot Bitcoin ETFs in the United States.

Earlier, SEC Chairman Gary Gensler said the application review process for the ETH ETF was “going smoothly.”