Spot Ethereum ETF to be approved within weeks, now it's all formalities - Galaxy Digital

Steve Kurtz, head of asset management at Galaxy Digital, expects the US Securities and Exchange Commission (SEC) to approve the spot Ethereum ETF within "weeks" rather than days, though he agrees , that the decision will probably be made in July.

В interview on Bloomberg TV on July 2, Kurtz commented:

We've been through this process before. This is a methodical procedure, more of a formality at this stage, and the Securities and Exchange Commission is actively involved.

Galaxy Digital is among eight asset management companies awaiting approval for their proposed spots Ethereum ETFs. The company is working in partnership with Invesco to bring this ETF to market.

Kurtz explained:

We have been dealing with [this process] for several months and are familiar with the procedures and requirements as the products are quite similar to the Bitcoin ETF we worked on.

This schedule is in line with the broader expectations of ETF analysts. On June 28, Bloomberg ETF analyst Eric Balchunas corrected its earlier forecast for ETF approvals, noting that the SEC has requested additional time to review applicants' Forms S-1s.

According to report to Bloomberg on July 2, which cited sources close to the situation, issuers have been given a deadline of July 8 to update their filings to resolve minor issues, which could lead to additional rounds of filings documents.