An expert in Bloomberg’s exchange-traded funds (ETFs) predicts that Ethereum (ETH) ETFs based on the spot market could be available in the United States by early July.

In a recent post on the social media platform X, senior ETF analyst Eric Balchunas suggests that ETH-based ETFs may receive approval by July 2nd. This prediction comes after the U.S. Securities and Exchange Commission (SEC) responded to S-1 filings submitted by several prominent financial firms.

According to Balchunas, the SEC’s request for modifications to the forms indicates that approval is imminent. He states, “We are adjusting our estimate for the launch of spot Ether ETF to July 2nd, as the staff has provided feedback on the S-1s, which seems minor and requires a response within a week. There is a good chance they will move forward to approve them the following week and clear it off their agenda before the holiday weekend. While anything is possible, this is our current best estimate.”

Earlier this year, the SEC approved 19b-4 filings from various firms, including BlackRock, Fidelity, VanEck, Grayscale, Bitwise, ARK, Franklin Templeton, and Invesco Galaxy. Balchunas mentions that his initial prediction for the approval of ETH ETFs was July 4th, but the new developments have led him to anticipate an earlier approval date.

Former SEC Chair Jay Clayton stated in May that the approval of the firms’ 19b-4 filings by the regulatory body indicates that the approval of ETH ETFs is inevitable.

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