Ethereum ETF Trading to Begin Soon, Bloomberg Analyst Provides Date!
The launch date for Ethereum exchange-traded funds (ETFs) is drawing near as issuers work to address the U.S. Securities and Exchange Commission’s (SEC) comments on their S-1 forms. The deadline for this process is set for this Friday, and issuers are racing to meet regulatory requirements.
After receiving feedback from the SEC last week, issuers are re-filing their forms to finalize the approval process. While the SEC approved 19b-4 forms for these ETFs in May, the S-1 forms still need to be approved before trading can commence. This involves multiple rounds of revisions based on SEC feedback, and sources describe the latest comments from the SEC as “reasonable” and “mild.”
Bloomberg Senior ETF Analyst Eric Balchunas estimates the launch date for these products to be on July 2, although he notes that this is just a best guess. The initial submission of master drafts of the S-1 forms on May 31 was followed by a two-week delay in receiving feedback from the SEC. While the SEC did not provide a specific timeline for approval, SEC Chairman Gary Gensler emphasized that the timing largely depends on how quickly issuers respond to the agency’s feedback.
The impact of Ethereum ETFs remains uncertain, but some analysts predict that they could capture up to 20% of the flows seen by Bitcoin ETFs. It’s important to note that this is not investment advice.
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