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="">
 <figcaption style="text-align: center;">
 Source: <a href="https://x.com/EricBalchunas/status/1806810886109331520" target="_blank" rel="noopener nofollow">Eric Balchunas</a>
 </figcaption>
</figure>
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

Table of Contents

Cointelegraph

Alte articole publicate pe 29 iun. 2024

SEC Sues Ethereum’s ConsenSys Over Lido And Rocket Pool Offerings

MoonBag Crypto Takes the Lead Over Fantom and ChainGPT in 2024

Potential Market Movements: Bitcoin Faces Short Squeeze Amid Rising Short Positions

Did Judge Jackson’s Verdict Mark a Crypto Win and a Setback for the SEC?

Shiba Inu Burn Rate Rockets 1100%, SHIB’s Climb To $0.00002 Imminent?

Here’s Why XRP and Cardano Might Not See ETFs Anytime Soon — Report

Join our free newsletter for daily crypto updates!