Galaxy Executive: Expect Ethereum ETF Spot to be Approved in July

According to a BlockBeats report on July 3, as reported by CryptoSlat, Steve Kurz, the head of asset management at Galaxy Digital, stated that the U.S. SEC may approve a spot Ethereum ETF before the end of July.

Kurz said he expects the spot Ethereum ETF to be approved "within weeks rather than days," but it will happen within a month. Galaxy has been working with the U.S. SEC for several months on its application and noted that its upcoming spot Ethereum ETF is similar to its existing spot Bitcoin ETF (BTCO). Galaxy collaborated with investment management company Invesco to create these two funds.

Kurz also expressed optimism about other spot crypto ETFs outside of Ethereum getting approval. Legislation (including laws defining securities) is necessary and this process will continue even if Biden continues as president.