SEC Delays Launch of Spot Ethereum ETFs Due to Required Revisions
The U.S. Securities and Exchange Commission (SEC) has requested revisions to the S-1 forms for the highly anticipated spot Ethereum exchange-traded funds (ETFs), causing a delay in their launch originally expected on July 2.
Potential issuers must address the SEC’s comments and resubmit the forms by July 8, indicating that at least one more round of filings is necessary before trading can commence.
Bloomberg ETF analysts Eric Balchunas and James Seyffart noted that the SEC’s additional review time has pushed the expected launch to mid-July or later. ETF Store president Nate Geraci mentioned that previous revisions to the S-1 forms were relatively minor, predicting that the SEC might clear issuers for trading within 14 to 21 days.
However, the exact timeline remains uncertain as the SEC has only indicated a potential summer launch without specifying a date.
The approval process for these ETFs involves two steps: the initial approval of the issuers’ 19b-4 forms in May and the subsequent approval of the S-1 forms. Unlike the 19b-4 forms, the S-1 forms do not have a specific deadline, and the speed of the SEC’s review depends on their processing time.
READ MORE: Denmark Considers Banning Non-Custodial Bitcoin Wallets
SEC Chair Gary Gensler previously suggested that Ethereum ETF approvals could occur “sometime over the course of this summer” but did not provide a specific timeline. He did, however, state that the approval process is “going smoothly,” involving major issuers like BlackRock, Fidelity, 21Shares, Grayscale, Franklin Templeton, VanEck, iShares, and Invesco.
Some issuers, including VanEck, have also filed 8-A forms, preparing for listing on exchanges by July 8. Gensler emphasized that the Ether ETF listings depend entirely on the responsiveness of the applicants.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
