Cryptocurrency markets consider ETH ETF S-1 Form approvals crucial because exchange listings depend on them. The approved BTC ETF led to billions in net inflows. If the same happens for Ether, we could see larger impacts on its spot price due to its lower market cap. Today, there was a significant development hinting at historical progress.
Ethereum ETF Listing
Recently, VanEck filled out the 8-A form for a spot Ether ETF. This form represents the next step. Although the SEC has approved the ETF, there is a procedural process that cannot be expedited. The paperwork and regulations for BTC took several months, and the ETF process progressed differently. The week the SEC was expected to reject the ETF, the institution suddenly changed its mind.
VanEck submitted the 8-A form for the spot Ethereum exchange-traded fund to the United States Securities and Exchange Commission. Senior ETF analyst Eric Balchunas recently commented that with this approval, exchange listings could occur on July 2.
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AAPLFor BTC, the same period was 7 days before the official listing. VanEck filled out this form 7 days before for the ETH ETF as well. The same analyst had earlier predicted that the ETF would be launched in early July based on the SEC staff’s lack of significant comments on S-1 applications, and this second development supports that prediction.
Impact of Cryptocurrencies in Politics
Balchunas states that the unexpected ETH ETF approval was largely triggered by political reasons. SEC Chairman Gary Gensler said the opposite and personally continued to imply that Ether is a security. However, contradicting this, he halted the investigation into the Ethereum ecosystem.
According to the Stand with Crypto political action committee, approximately 52 million Americans are cryptocurrency investors. The PAC also gathered signatures from 1 million crypto supporters in the US, demonstrating that crypto investors could significantly influence the November elections. Gemini made notable crypto donations to Trump, and even Biden started looking for ways to accept crypto donations.
