Top experts are pointing towards July 2 as a potential date for the approval of Ethereum ETFs, marking a significant milestone for the crypto market. SEC chairman Gary Gensler recently hinted at the possibility of approving S-1 forms for spot exchange-traded funds on major altcoins "sometime this summer," as reported by U.Today.

The SEC has already paved the way for Ethereum ETFs by approving necessary rule changes to facilitate their listing and trading. However, the final step involves the approval of S-1 registration forms, which provide detailed information about these products. Issuers were requested to update their S-1 forms in late May, indicating ongoing progress in the approval process.

Eric Balchunas, a senior ETF analyst at Bloomberg, has projected that the SEC could finalize the approval of these forms by July 2. He noted that SEC staff recently provided issuers with minor comments on the forms and requested responses within a week, signaling a positive momentum towards approval.

Nate Geraci, another ETF analyst, echoed optimism, suggesting that all signs point towards imminent approval.

The potential approval of Ethereum ETFs holds considerable implications for the crypto market, potentially opening up new avenues for investment and enhancing digital asset adoption. As the SEC approaches its decision, both institutional and retail investors are eagerly awaiting the outcome, anticipating its impact on market dynamics.