The cryptocurrency industry is eagerly awaiting the approval of the first Ethereum spot ETFs by the United States Securities and Exchange Commission (SEC). According to the latest information, the first returns for S-1 forms are expected in the coming days.
Spot Ethereum ETF: Is approval imminent?
According to our information, potential issuers of Ethereum spot ETFs received comments last week from the Securities and Exchange Commission (SEC) regarding their S-1 forms. The companies concerned have until Friday to return them to the SEC.
Although the precise timeline for final approval remains uncertain, the SEC indicated that the final decision would be made “this summer.”
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While Forms 19b-4 were approved in May, approval of Forms S-1 is still required before trading in Ethereum spot ETFs can begin. This process is not subject to a strict deadline, and the forms are currently undergoing multiple revisions until they are ready.
According to the source of one of the issuers, the latest comments from the SEC were rather positive and the issuer expects approval. According to a source from another issuer, the SEC's comments are rather “light-hearted.”
“I think the applications will be filed fairly quickly this week, and then we'll see how many more rounds of funding are needed. »
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Towards a potential launch on July 2?
On June 13, Eric Balchunas, specialist in the ETF branch at Bloomberg, tweeted that he had also heard rumors about the progress of S-1 forms.
Even if it is a simple hypothesis, for him, the launch date of Ethereum spot ETFs will be set for July 2.
“We are moving our launch date for Ethereum Spot ETFs to July 2. We heard that the SEC sent their comments to issuers on the S-1 forms today, and they are pretty light, nothing major, just asking for a response in a week. There's a good chance they'll work on declaring them effective the following week and removing them from their pile before the holiday weekend. Anything is possible, but this is our best guess at the moment. »
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Issuers submitted the first versions of their Forms S-1 on May 31, after the approval of Forms 19b-4. While they initially expected to receive feedback the following week, it took almost 2 weeks for it to arrive.
The SEC did not say when the S-1 forms would be approved, other than to say this “summer.” Chairman Gary Gensler said the timeline will largely depend “speed of response from transmitters”.
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