Galaxy Digital asset management executive Steve Kurtz expects the U.S. Securities and Exchange Commission (SEC) to approve a spot Ethereum ETF in “weeks” rather than days, although he also agrees that the decision could come in July.
On February 2nd, Kurtz commented on Bloomberg TV:
“We’ve been through this process before. It’s a methodical process, and at this stage it’s more formal, with the SEC actively engaged.”
Galaxy Digital is one of eight asset management companies waiting for approval for its proposed spot Ethereum ETF seat. The company is collaborating with Invesco to bring the ETF to market.
Kurtz explained:
“We’ve been going through [this process] for several months now, and we are familiar with the process and requirements because these products are very similar to the Bitcoin ETFs we have developed.”
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This timetable aligns with broader expectations among ETF analysts. On February 28th, Bloomberg ETF analyst Eric Balchunas adjusted his earlier predictions for ETF approval, noting that the SEC had requested additional time to review the applicants’ S-1 forms.
According to reports from Bloomberg on February 8th citing sources familiar with the matter, the issuer updated its filings by the final deadline on March 1st to address minor issues, which could result in additional rounds of filings.
