An expert in Bloomberg’s exchange-traded funds (ETF) predicts that Ethereum (ETH) spot market ETFs will likely be available in the US by early July.

Taking to the social media platform X, senior ETF analyst Eric Balchunas suggests that ETH-based ETFs could receive approval by July 2nd following the U.S. Securities and Exchange Commission (SEC) responding to S-1 filings from several prominent financial firms.

Balchunas interprets the SEC sending back the forms for adjustments as a sign that approval is imminent.

“We are adjusting our estimated launch date for spot Ether ETF to July 2nd, as we have heard that the staff has provided issuers with comments on S-1s [on Friday], and they are relatively minor, requesting them back within a week. There is a good chance they will work to finalize them the following week and clear it off their desks before the holiday weekend. While anything can happen, 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.

“Our previous estimated date was July 4th, so this isn’t a significant change, but 1) we were beginning to think it might take longer, so this is somewhat positive news, and 2) we typically decide the estimated date based on where we are evenly split on where to place our bets, and right now, July 2nd is that date.”

In May, former SEC Chair Jay Clayton stated that the SEC’s approval of the firms’ 19b-4 filings indicates that approval of ETH ETFs is inevitable.

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