The United States Securities and Exchange Commission (SEC) has given final approvals to spot Ethereum ETFs, clearing the way for the funds to begin trading as soon as Tuesday, July 23.

Such funds received initial approval in May in a surprise regulatory shift by the SEC, and have spent recent weeks sending in updated and finalized forms. Now, 424(b) approvals are coming in and spot Ethereum ETFs have been made effective by the SEC, which means they can begin trading.

July 23 emerged as the likely target for the trading start early last week, as sources connected to fund providers told Decrypt that they were told to expect approvals ahead of that date, barring unexpected delays.

"It’s official: Spot ETH ETFs have been made effective by the SEC," tweeted Bloomberg Senior ETF Analyst Eric Balchunas on Monday afternoon. "The 424(b) forms are rolling in now, the last step = all systems go for tomorrow’s 930am launch. Game on."

Several firms intend to launch spot Ethereum ETFs in the United States, with the list including heavyweights like BlackRock, Fidelity, Franklin Templeton, and Grayscale.

Final approvals of spot Ethereum ETFs in the United States come just six months after spot Bitcoin ETFs began trading in the country, with many of the same names behind Bitcoin funds making an Ethereum push, as well. Bitcoin ETFs have thus far brought in more than $17 billion worth of total inflows since launch.

Ethereum's price has actually dipped slightly since the final SEC approvals emerged Monday afternoon, with the price of ETH down about 0.6% over the past hour to $3,470 as of this writing. Indeed, while there has been broad anticipation over the start of Ethereum ETF trading, there has been pessimism too—with Wintermute projecting "lower-than-anticipated demand."

Editor's note: This story was updated after publication with additional details.