Insiders Discuss Launch Date for Ethereum Spot ETFs
A statement from confidential sources has shed some light on the potential launch date for Ethereum Spot ETFs, although the exact timeline remains a mystery.
The anticipation is building among Ethereum ETF candidates who are eagerly awaiting approval from the U.S. Securities and Exchange Commission (SEC). While the launch date for US spot Ethereum ETFs is still uncertain, it appears that the process is nearing its final stages.
Last week, issuers made changes to their ETH ETF registration statements in response to proposed regulations from the SEC. This move followed the SEC’s formal approval of 19b-4 proposals from exchanges where ETH funds will be listed, which took place last month.
The SEC works closely with issuers on registration statements, also known as S-1s. The completion of this process, which involves the SEC allowing the filings to go into effect, is the last hurdle before these ETH ETFs can start trading. These ETFs will be the first of their kind in the US.
Reports suggest that the latest round of S-1 revisions was relatively minor, leading to speculation that the SEC could provide a launch date for the funds at any point. A source familiar with the filings stated that issuers do not anticipate significant additional comments from the SEC.
According to the source, “The ball is in their court… We don’t really have any expectations because it’s completely up to them now, but we’re on edge. They can move as fast or slow as they want.”
While issuers have not received further comments from the SEC since the final S-1 issuances, it is expected that there will be at least one more round of revisions. A second source familiar with the ETH ETF filings stated, “The timeline for launch is unclear, but we reasonably expect it to be within the next two to three weeks.”
Eric Balchunas, an analyst at Bloomberg Intelligence, suggested the possibility of the regulator allowing S-1s to take effect before the July 4 holiday. He pointed out that VanEck’s 8-A for the spot Bitcoin ETF was approved seven days before the fund was launched in January, indicating that his prediction could come true.
However, a third source familiar with the applications stated that an approval before July 4 seems unlikely at this time. The final decision lies with the SEC, leaving the cryptocurrency community eagerly awaiting their verdict.
*This article does not provide investment advice.
