{"id":1475071,"date":"2024-07-03T13:30:00","date_gmt":"2024-07-03T17:30:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1475071"},"modified":"2024-07-03T13:30:00","modified_gmt":"2024-07-03T17:30:00","slug":"ethereum-etfs-in-window-dressing-stage-approval-within-weeks-galaxy","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/ethereum-etfs-in-window-dressing-stage-approval-within-weeks-galaxy\/1475071\/","title":{"rendered":"Ethereum ETFs In ‘Window-Dressing’ Stage, Approval Within Weeks; Galaxy"},"content":{"rendered":"

Ethereum ETFs In ‘Window-Dressing’ Stage, Approval Within Weeks; Galaxy<\/span><\/p>\n

\n

Authored by Felix Ng via CoinTelegraph.com,<\/em><\/a><\/p>\n

Galaxy Digital\u2019s head of asset management believes spot Ether exchange-traded funds will be approved in \u201cweeks\u201d rather than days but agrees the decision will come sometime in July.\u00a0<\/p>\n

<\/a><\/p>\n

\u201cLook, we\u2019ve done this before. This is methodical, this is window dressing, the SEC is engaged,\u201d<\/strong><\/em> said Steve Kurz in an\u00a0interview<\/a>\u00a0with Bloomberg TV on July 2.<\/p>\n

Galaxy Digital is one of eight asset managers with a proposed\u00a0spot Ether ETF<\/a>\u00a0currently under review with the United States Securities and Exchange Commission. It is collaborating with Invesco on the ETF.<\/p>\n

\u201cWe\u2019ve been doing this for months now, we did it with the Bitcoin ETF, the products are substantially similar \u2014 we know the plumbing, we know the process.\u201d<\/strong><\/em><\/p>\n

Kurz\u2019s estimate is largely in line with other\u00a0ETF analyst<\/a>\u00a0estimates.<\/p>\n

On June 28, Bloomberg ETF analyst Eric Balchunas pushed back his early July estimate for ETF approvals after the SEC took \u201cextra time\u201d to get back to applicants about their S-1 paperwork.<\/p>\n

<\/a><\/p>\n

Galaxy Digital\u2019s Steve Kurz speaking on Bloomberg TV. Source: Bloomberg<\/em><\/p>\n

A July 2 Bloomberg report,\u00a0citing<\/a>\u00a0two people familiar with the matter, added fuel to this theory, stating Ether ETF applicants have been given until July 8 to submit updated paperwork to address some minor issues.<\/strong><\/p>\n

This could be followed by an additional round of filings, they said.<\/p>\n

Eight bidders, including BlackRock, Fidelity, 21Shares, Grayscale, Franklin Templeton, VanEck, iShares, and Galaxy\/Invesco, have already been given the green light to list their shares on their respective exchanges.<\/p>\n

The issuers now need an approved S-1 filing for the Ethereum ETFs to go live for trading.<\/p>\n

In a July 2 research report, K33 Research\u00a0suggested Ether ETFs<\/strong><\/a>\u00a0would be a \u201cgolden egg\u201d for ETH\u2019s price and could even outperform Bitcoin in the first weeks after it goes live.<\/strong><\/p>\n

[ZH: ETH has held its relative strength to BTC over the past month as the odds of approval of ETFs increase]<\/em><\/p>\n

<\/a><\/p>\n

K33 analysts Vetle Lunde and David Zimmerman expect Ether \u201cto stumble immediately following the launch of the ETFs\u201d but noted that, much like what happened with Bitcoin, inflows to the funds would likely bolster ETH\u2019s price.<\/strong><\/p>\n

\u00a0<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nWed, 07\/03\/2024 – 09:30<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/crypto\/ethereum-etfs-window-dressing-stage-approval-within-weeks-galaxy<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Ethereum ETFs In ‘Window-Dressing’ Stage, Approval Within Weeks; Galaxy Authored by Felix Ng via CoinTelegraph.com, Galaxy Digital\u2019s head of asset management believes spot Ether exchange-traded…<\/p>\n","protected":false},"author":0,"featured_media":1475072,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-1475071","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbimBl-6bJt","jetpack_featured_media_url":"https:\/\/bugaluu.com\/news\/wp-content\/uploads\/sites\/3\/2024\/07\/6c04ac4b-bd99-4b57-bd80-04ad8622-tzwc0k.jpeg","_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1475071","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1475071"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1475071\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1475072"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1475071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1475071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1475071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}