Ethereum

Gary

The launch of United States-based spot Ether exchange-traded funds (ETFs), which many expected to occur as early as July 2, has been delayed by the U.S. Securities and Exchange Commission (SEC).&nbsp;
According to Bloomberg ETF analysts Eric Balchunas and James Seyffart, the SEC has&nbsp;taken&nbsp;additional time to return the S-1 forms submitted by prospective spot Ether (<a href="https://cointelegraph.com/ethereum-price">ETH</a>) ETF issuers, pushing the launch to mid-July or later.
<h3 data-ct-non-breakable="true" id="sec-comments-delay-process">SEC comments delay process</h3>
The SEC commented on the S-1 forms and requested resubmissions by July 8. According to Balchunas, this new timeline means the launch of the spot Ethereum ETFs could be postponed until mid-to-late July.
ETF Store president Nate Geraci <a href="https://x.com/NateGeraci/status/1806009033498734615" target="_blank" rel="noopener nofollow">noted</a>&nbsp;that the last round of S-1 revisions was relatively minor, predicting that the SEC would clear issuers for trading within 14–21 days. Although the exact timeline remains uncertain, the SEC has indicated a potential launch this summer.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-06/fed84012-f54d-485a-8124-17c9e3aa6a6e.png" alt="" title="">
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 Source: <a href="https://x.com/EricBalchunas/status/1806810886109331520" target="_blank" rel="noopener nofollow">Eric Balchunas</a>
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Earlier in June, Balchunas predicted an <a href="https://cointelegraph.com/news/spot-ethereum-etf-ether-eric-balchunas-bloomberg">early July ETF launch window</a> based on a lack of significant commentary from SEC staff on the ETF applicants’ S-1 filings. 
<h3 data-ct-non-breakable="true" id="two-step-process-for-ethereum-etfs">Two-step process for Ethereum ETFs</h3>
The approval of the S-1 forms is the second part of a two-step process required for the ETFs to go live. The first part involved the approval of the issuers’ 19b-4 forms in May. The SEC approved 19b-4 filings from <a href="https://cointelegraph.com/learn/spot-ethereum-etf">eight ETF bidders</a> on May 23.
Unlike the 19b-4 forms, the S-1 forms are not bound to a specific deadline, leaving issuers reliant on the SEC’s timeline for review and approval.
Related:&nbsp;<a href="https://cointelegraph.com/search?query=Ethereum%2520ETF#:~:text=21Shares%20files%20application%20for%20spot%20Solana%20ETF">21Shares files application for spot Solana ETF</a>
On June 26, SEC Chair Gary Gensler confirmed that the approval process for spot Ether ETFs <a href="https://cointelegraph.com/news/ethereum-etf-going-smoothly-gary-gensler">is progressing smoothly</a>. 
The SEC has <a href="https://cointelegraph.com/news/eth-etf">approved a rule change</a> allowing major issuers, including BlackRock, Fidelity, 21Shares, Grayscale, Franklin Templeton, VanEck, iShares and Invesco, to participate in the process. Additionally, issuers such as VanEck <a href="https://cointelegraph.com/news/vaneck-form-8a-spot-ether-etf">have filed 8-A forms</a>&nbsp;preparing for listing on exchanges by July 8.
However, Gensler claimed that listing spot Ether ETFs on stock exchanges <a href="https://cointelegraph.com/news/ethereum-etf-launch-depend-on-issuers-not-sec-gary-gensler">could take months</a> and may not happen until September. Gensler put the onus of the Ether ETF listings on the applicants and claimed the process depends entirely on their response times.
Magazine: <a href="https://cointelegraph.com/magazine/ordinals-turned-bitcoin-into-a-worse-version-of-ethereum-can-we-fix-it/">Ordinals turned Bitcoin into a worse version of Ethereum: Can we fix it?</a>

Spot Ethereum ETF launch delayed by SEC comments

Inhoudsopgave

Cointelegraph

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