-
ETH
exchange
traded-funds
issuers
were
told
by
the
SEC
that
funds
can
start
trading
July
23,
according
to
sources. -
The
SEC
had
no
further
comments
on
the
recently
submitted
S-1s
and
the
final
versions
needs
to
be
submitted
by
Wednesday. -
ETH
outperformed
BTC
on
Monday,
on
the
news
of
potential
ETF
trading
approval.
Prospective
issuers
of
a
spot
ether
(ETH)
exchange-traded
fund
(ETF)
were
told
by
the
Securities
and
Exchanges
Commission
(SEC)
on
Monday
that
the
funds
can
begin
trading
next
Tuesday,
two
sources
familiar
with
the
matter
told
CoinDesk.
SEC
officials
told
one
issuer
that
the
regulator
had
no
further
comments
on
the
recently
submitted
S-1s
and
that
the
final
versions
needed
to
be
submitted
by
Wednesday,
one
of
the
source
said,
adding
that
the
funds
can
subsequently
be
listed
on
exchanges
on
Tuesday,
July
23.
A
second
source
said
it’s
possible
that
trading
could
start
on
Tuesday,
after
the
ETFs
are
deemed
effective
next
Monday.
Bloomberg
Intelligence
senior
ETF
analyst
Eric
Balchunas
first
reported
the
development
on
a
social
media
post.
The
issuers
submitted
amended
S-1
documents
last
week
but
have
yet
to
disclose
some
of
the
details,
including
how
much
management
fee
they
will
be
charging
investors.
Only
a
few
issuers,
including
VanEck
and
Invesco
Galaxy,
have
so
far
revealed
their
fees.
Once
live
on
the
market,
the
spot
ether
ETFs
could
see
inflows
of
up
to
$5
billion
in
the
first
six
months,
crypto
exchange
Gemini
predicts.
Steno
Research
said
it
expects
inflows
of
up
to
$20
billion
in
the
first
year.
The
price
of
ether
rose
as
much
as
7.3%
on
Monday,
outpacing
bitcoin’s
6%
gain,
on
the
news
of
ETFs
starting
to
trade
next
week.
The
broader
market
index
CoinDesk
20
climbed
5.6%
today.
Nik
De
also
contributed
to
the
reporting
of
this
story