Digital currency investors in the United States might not have to wait much longer for the recently approved spot Ethereum ETF products to commence trading. There's widespread discussion within the broader crypto industry regarding the likelihood of the S-1 approval for these products, with many experts offering insights and predicting a potential timeline for the Securities and Exchange Commission (SEC) to greenlight them.

Nate Geraci, host of the ETF Prime podcast, speculated that the approval could arrive in the next few weeks. Although he couldn't pinpoint an exact date for the SEC's decision, he estimated that the S-1 approval might take a maximum of 2-3 months. Drawing parallels to the swift trading initiation in the case of Bitcoin ETFs, Geraci strongly believes that the SEC could expedite Ethereum ETF trading as well.

According to Geraci, the SEC has already completed a significant portion of the groundwork with the approval of spot Bitcoin ETFs and Ethereum futures ETFs. Hence, he surmised that it might boil down to the SEC's timeline preferences. Eric Balchunas, a senior ETF analyst at Bloomberg, suggested around July 4, 2024, as a potential timeframe for the spot Ethereum ETF S-1 approval, stating, "July 4th feels like a good over/under."

Balchunas' projection found agreement from Geraci, who remarked, "I like it... I'll take under, but right timeframe IMO."

While not as rapid as Bitcoin ETFs, if the approval materializes within the speculated timeframe, it would still be considered early, especially considering the uncertain security status of the underlying cryptocurrency and other regulatory considerations.

There's been a misconception among many crypto enthusiasts expecting immediate trading following the launch of the spot Ethereum ETF, akin to Bitcoin ETFs. James Seyffart, an ETF analyst at Bloomberg, clarified this distinction by highlighting that approval of the 19b-4 and S-1 forms doesn't necessarily occur simultaneously.

After the approval of the eight spot Ethereum ETFs on May 23rd, Seyffart noted that "we also need S-1 approvals. It could be weeks to months before we see S-1 approvals and thus a live Eth ETF."

Seyffart elaborated on this based on trends in general ETF approvals, emphasizing the minimum time gap preceding the actual product launch. The final approval and launch often result from ongoing communication between the SEC and the applicants. Fortunately, this communication process commenced last week for spot Ethereum ETFs, fostering optimism for a favorable outcome soon. Overall, Geraci and Balchunas' optimism mirrors the broader sentiment in the crypto industry regarding the high demand for this product.