Spot Ethereum ETF Approval Process Update

The approval process of the Spot Ethereum ETF is progressing after the 19b-4 form approval of eight applicants, including major players like BlackRock, Fidelity, and Grayscale. Despite the initial excitement for S-1 form approval, traders are looking at a timeline of a few weeks to 2-3 months before they can start trading. The final approval timeline for the spot Ethereum ETF is anticipated to be within 2-3 months at most, according to experts in the industry. Nate Geraci, the president of ETF Store, emphasized that while the 19b-4 approval was significant, the S-1 form approval is crucial for the ETF to be listed on exchanges. Geraci also mentioned that the heavy lifting for spot Bitcoin ETFs and Ethereum futures ETFs has already been completed. James Seyffart, an ETF analyst at Bloomberg, clarified that the 19b-4 approval does not indicate immediate trading and that the approval on the S-1 documents will take some time, likely a couple of weeks. The market experienced a correction as it realized the partial nature of the SEC's approval. The community's patience might be tested as they await the final approval of the spot Ethereum ETF. Senior ETF analyst Eric Balchunas hinted at a possible approval date around July 4. Meanwhile, despite the ETF not being live yet, Ethereum (ETH) has been performing well, with its price hovering around $3,873.61 at the time of writing. The cryptocurrency has seen fluctuations but maintained a bullish trend, experiencing a surge in value in the past week.