Steve Kurz, the director of asset management at Galaxy Digital, is optimistic that Ethereum ETFs will be approved within the month.
The director of asset management at Galaxy Digital anticipates that spot Ether exchange-traded funds will be approved within “weeks” rather than days. Still, he acknowledges that the decision will be made in July.
“Look, we have previously executed this task. In an interview with Bloomberg TV on July 2, Steve Kurz stated, “This is methodical, this is window dressing, the SEC is engaged.”
Galaxy Digital is one of eight asset managers reviewing a proposed spot Ether ETF with the United States Securities and Exchange Commission. It is collaborating with Invesco on the ETF.
“We’ve been doing this for months now, we did it with the Bitcoin ETF, the products are substantially similar — we know the plumbing, we know the process.”
Kurz’s estimate is substantially consistent with that of other ETF analysts.
Eric Balchunas, an analyst at Bloomberg ETF, revised his estimate for ETF approvals in early July on June 28 due to the SEC’s “excessive” response time to applicants regarding their S-1 documentation.
This theory was further bolstered by a July 2 Bloomberg report, which cited two individuals who are familiar with the matter. The report stated that Ether ETF applicants have been given until July 8 to submit updated paperwork to resolve minor issues.
They stated that an additional round of filings may follow this.
Eight bidders, including BlackRock, Fidelity, 21Shares, Grayscale, Franklin Templeton, VanEck, iShares, and Galaxy/Invesco, have already been authorized to list their shares on their respective exchanges.
For the Ethereum ETFs to be available for trading, the issuers must now submit an approved S-1 filing.
In a research report published on July 2, K33 Research proposed that Ether ETFs could serve as a “golden egg” for ETH’s price and even surpass Bitcoin in the initial weeks following its launch.
According to K33 analysts Vetle Lunde and David Zimmerman, Ether is anticipated to experience an immediate decline following the introduction of the ETFs. However, they also noted that similar to Bitcoin, the price of ETH would likely be supported by inflows into the funds.
