- June 18, 2024
- Posted by: [email protected]
- Category:
Bloomberg ETF analyst Eric Balchunas has taken to social media platform X to forecast that Ethereum-based ETFs could receive approval by July 2, following the U.S. Securities and Exchange Commission’s (SEC) response to S-1 filings submitted by various prominent financial firms.
The Bloomberg analyst, who is feeling optimistic, believes there is a good chance the SEC will give the green light to the ETF filings next week, just before the holiday weekend. It seems they are itching to get things “off their plate” before taking a break. But, like always with the SEC, things could change, and nothing is promised yet. They are not guaranteeing anything; they are just saying this is their best guess for now.
Eric commented on his X-handle, “We are moving up our over/under date for the launch of Spot ETH ETF to July 2nd. I heard the staff send issuer comments on S-1s today, and they’re pretty light, nothing major, asking for them back in a week. There is a decent chance they will work to declare them effective the next week and get it off their plate before the holiday weekend. Anything is possible, but this is our best guess as of now.”
In a subsequent post, Balchunas emphasized that his initial prediction for the ETF launch had been July 4th. The revised timeline, he emphasized, was not a dramatic shift but rather a reflection of a growing sense that the process might take longer and predict a massive surge in the ETF market, forecasting assets under management to hit $35 trillion globally by 2035—more than tripling the current $13 trillion figure.
This bold prediction is based on a conservative 10% annual growth rate, highlighting the enduring appeal of ETFs among investors. He attributes this strong trajectory to their key advantages: low costs, superior intra-day liquidity, tax efficiency, and flexibility. These factors are expected to continue attracting significant investor capital and trading volume, driving innovation and the development of new product offerings. The long-term outlook for ETFs remains positive, with structural changes in overseas markets and the growing popularity of mutual fund share classes in the US poised to further fuel their growth.
