The highly anticipated launch of spot ether exchange-traded funds (ETFs) has hit a snag, with Bloomberg's senior ETF analyst, Eric Balchunas, revising his prediction for the launch date. Initially, Balchunas expected the ETFs to go live on July 2, but he now believes the launch will be delayed due to the U.S. Securities and Exchange Commission's (SEC) slow review process during the holiday week.

Despite the approval of 19b-4 filings for eight ether ETFs in May, the S-1 registration statements are still pending. SEC Chair Gary Gensler has hinted that ether ETFs will launch this summer, but the exact date remains uncertain. Balchunas took to social media platform X to share his updated prediction, citing the SEC's tendency to take extra time to review issuers' S-1 filings, even when only minor tweaks are required.

The review process is expected to resume on July 8, following the Fourth of July holiday week, with the spot ether ETFs likely launching shortly thereafter. This delay may come as a disappointment to investors eagerly awaiting the opportunity to trade ether ETFs, but it's a minor setback in the grand scheme of things. As the market continues to evolve, it's clear that the launch of ether ETFs will be a significant milestone in the cryptocurrency's history.