Ethereum ETF: July Launch Expected as Galaxy Predicts More Crypto ETFs

The Spot Ethereum ETF is expected to launch in July, Galaxy Digital head of asset management Steve Kurz recently said. Moreover, he noted that there are expectations for even more crypto ETFs following the approval of both Bitcoin and ETH this year.

Speaking to Bloomberg, Kurz said he expects the ETH ETF approvals in ‘weeks, not days.” Additionally, Kurz said future crypto-based exchange-traded products “really have to do with legislation being passed in the US.” Thereafter, he noted that regardless of the upcoming presidential election results, the country is “on the right track,” regarding digital asset regulation.

Also Read: Ethereum ETFs: $5B Net Inflows Expected in First 6 Months

Galaxy Expects ETH ETF in July, Even More Crypto ETFs

In a recent interview, Galaxy Digital affirmed that Ethereum ETFs will launch in July while discussing the likelihood of even more crypto ETFs. Kurz said that “people want this. Retail wants this. Investors want this,” regarding the demand for the investment products.

Specifically, he referenced the $15 billion in net inflows that Bitcoin’s ETF saw after its launch in January. Kurz also discussed Galaxy’s work with the SEC. He noted that the firm’s Ethereum ETF is similar to its BTC offering, while he also assured that both funds were issued in partnership with Invesco.

“We know the plumbing, we know the process,” Kurz said, “The SEC is engaged.” Additionally, Kurz was asked about a potential Solana ETF. The investment product has seen tremendous hype build over the last couple of weeks. GSR Markets recently published a report saying that the token has established itself among crypto’s Big Three, behind BTC and ETH.

Also Read: SOL Mid-July Prediction: SOL ETFs To Usher In An Early Solana Summer?

Although he didn’t express his confidence in that, he said Galaxy would “meet the market where it is.” Moreover, he said that Galaxy “has a lot of exposure with Solana,” while reiterating that they know the ecosystem well.

Yet, he insisted that more important than a specific coin is the necessary legislation. “I think less important, [over] any single coin is the legislation, which sets up rules that allow more than just Solana to become an ETF,” Kurz said.

Galaxy does appear to align with the market’s anticipation that the Ethereum ETF will launch by July 8th. Blooomberg’s Erich Balchunas recently forecasted the date as when trading begins. That is an extension from his previous July 2nd prediction but shows continued progress by both sides.