In recent years, Ethereum ETFs have become popular among many investment companies. As the bear market continues, cryptocurrency investors continue to focus on events that could trigger another price rally. The approval of the Ethereum ETF is certainly one such event, which is why it’s important to keep these October dates in mind.
First Ethereum ETF Approval Decision Coming Soon
After companies complete their Ethereum ETF filings with the U.S. Securities and Exchange Commission (SEC), it’s now up to regulators. Depending on the date of the ETF filing, their decision date is either closer or further away, but less than two weeks from the first decision date.
Under the SEC’s deadline schedule for all Ethereum ETFs filed to date, the Valkyrie Bitcoin and Ethereum Strategy ETF (BTF), filed by Valkyrie Investments in August, is the first to be decided. Valkyrie’s ETF decision is expected to be made on October 3, 2023.
While regulators can accept or reject Ethereum ETF applications on that date, they can also choose to delay the decision. However, some believe approval will come in October. The Bloomberg report quoted people familiar with the matter as saying that they did not expect the SEC to block the Ethereum ETF.
However, October 3 is not the only important date, as all application deadlines are scattered throughout the month. Next up is the Bitwise Bitcoin and Ethereum Equally Weighted ETF (BITC), with an expiration date of October 9, 2023. Following closely behind is the Ethereum Strategy ETF (ETHU) submission from Volatility Shares, with an October 11, 2023 deadline.
There are a total of 16 ETFs registered on the list. Eight of them have a deadline of October 16, 2023, three have a deadline of October 17, 2023, one has a deadline of October 18, 2023, and the last one has a deadline of October 30, 2023 day.
Deadlines for 16 ETF filings | Source: Bloomberg
What happens if an ETF is approved?
Expectations across the sector for when an Ethereum ETF will be approved are almost unanimously bullish. Such an approval would provide institutional investors with access to the second-largest cryptocurrency by market capitalization, leading to billions of dollars flowing into the digital asset.
Some documents also revealed that they planned to purchase ether to fulfill their obligations. If they do, these funds will buy in large quantities and a large portion of the supply will be bought up.
In this case, if approved, the price of ETH could easily rise another 50% from its current position to over $2,000. Take the approval of the first Bitcoin ETF, which could be the catalyst needed for ETH to reach new all-time highs.
ETH bears threaten price crash | Source: ETHUSD on Tradingview.com
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