Bitcoin Spot ETFs have long gotten their approval from the Securities and Exchange Commission. Since then, Ethereum ETFs have wondered when it would be their turn. Months have passed, and nothing has been certain yet; it has only been a continuous back and forth. However, recent developments have suggested that Ethereum ETFs may soon be getting their time in the spotlight.

Related: Gensler vs. Behnam: Dueling Approaches to Crypto Regulation

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Monday came with a big update as Five asset managers updated their proposals with the SEC. This has caused an exciting reaction in the market, and one analyst in particular is very optimistic about the potential approval.

VanEck, the American investment management firm was the first to submit an amendment for its spot Ethereum ETF. The company seems to be interested in doing some rebranding as they unveiled a new name for their product, “The VanEck Ethereum Trust”. 

The amendment from VanEck was followed by 21shares, the crypto ETF trading company which also submitted a new registration for its spot Ethereum ETFs. As if there was a conference held to submit amendments, Grayscale, the crypto asset manager, also followed, submitting two amended filings. One for the $28 billion Grayscale Ethereum Trust and the second for a mini alternative which will trade at a lower cost.

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Franklin Templeton also wasted no time submitting its own amended filing for its spot Ethereum ETF, and like cars in a convoy, Fidelity and BlackRock went in the same direction, each of them presenting the SEC with new amendments to their previous submissions.

After all the asset managers submitted their amended filings, the market then realized that none of them included any details on their planned fees. However, Erich Balchunas, an analyst at Bloomberg, has cleared the air on the issue. He stated that we would still get to know the details of the fees for all the companies, but the SEC has not required them yet.

Eric Balchunas believes that we should be expecting one more round of updates from all of the companies; this time, they would include fees. In an optimistic and almost prophetic fashion, Blachunas mentioned that the entire approval drama remains just one last round of updates with fees included, “and then it’s go time.”

Some would say Eric Balchunas is even more excited about the approval of Ethereum ETFs than the companies hoping for the SEC’s greenlight on their spot ETFs, as he came out with a bold statement regarding the future of Ethereum ETFs. In his words:

If you forced me gun-to-head style to give my best guess for a date, I'd go with July 18th. 

Unlike the enthusiastic Eric, the rest of us don’t know when or whether Ethereum ETFs will get the green light from the SEC but with Bitcoin’s successful filing, who’s to say Ethereum ETFs won’t get the same treatment? Investors are tired of waiting forever and are already looking forward to that day. In the meantime, only time will tell, and the SEC, too.

More: Bitcoin Critically Fell After the ETF Approval. What’s Next?

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