Ethereum

Spot

Spot Ethereum ETFs trading approval just got closer with the United States Securities and Exchange Commission (SEC) scheduling a date for S-1 refiling.
<h2 id="strong-crucial-date-to-watch-strong">Crucial Date To Watch</h2>
Nate Geraci, the President of ETFStore, noted that the SEC has returned the <a href="https://coingape.com/breaking-spot-ethereum-etf-s-1-amendments-in-from-8-firms-whats-next/" target="_blank" rel="noopener noreferrer nofollow">S-1 amendments</a> for spot Ethereum ETF products with a few light comments.
Consequently, potential issuers are expected to address the comments and refile their registration by July 8. The ETFStore executive highlighted the possibility of a final round before the regulator gives a nod to spot Ethereum ETF trading. Markedly, this is after the issuers must have refiled their registration.
<blockquote class="twitter-tweet">
 Some addn’l detail on spot eth ETF approval timeline…
 Issuers have been asked to submit S-1 amendments by July 8th.
 There would still be one more round of filings after that before ETFs can start trading.
 “Never ceases to be a winding path.”
 via <a rel="noopener noreferrer nofollow" href="https://twitter.com/Timccopeland?ref_src=twsrc%5Etfw">@Timccopeland</a> <a rel="noopener noreferrer nofollow" href="https://t.co/b0Gd7Wbz4A">pic.twitter.com/b0Gd7Wbz4A</a>
 — Nate Geraci (@NateGeraci) <a rel="noopener noreferrer nofollow" href="https://twitter.com/NateGeraci/status/1807041501077110986?ref_src=twsrc%5Etfw">June 29, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Several analysts looked forward to having the <a href="https://coingape.com/bitwise-ceo-hints-at-major-announcement-spot-ether-etf-launch-likely-by-july-4/" target="_blank" rel="noopener noreferrer nofollow">proposed rule change</a> in the market on or before July 4. Bloomberg ETF analysts Eric Balchunas and James Seyffart also estimated to launch next week. However, the date scheduled for refiling already shows that the speculated day is not feasible.
As it stands, VanEck, BlackRock, Fidelity Investments, Grayscale Investments, Ark 21Shares, Invesco Galaxy, Franklin Templeton, and Bitwise which all received approval for the spot Ethereum ETF product in May will have to wait for at least two more weeks before trading can commence.
This still aligns with Gary Gensler‘s earlier statement about the timeline for the launch of the Ethereum ETF product. The Chairman of the Commission was not so specific about any date but he stated that approvals for offerings like Ethereum ETF usually come “sometime over the course of this summer”. 
He also confirmed that the approval process for <a href="https://coingape.com/spot-ethereum-etf-sec-chair-gary-gensler-says-approval-is-going-smoothly/" target="_blank" rel="noopener noreferrer nofollow">spot Ethereum ETF is going smoothly</a>, therefore, issuers may have nothing to worry about.
<h2 id="strong-spot-ethereum-etf-in-final-stages-strong">Spot Ethereum ETF In Final Stages</h2>
While awaiting the final approval from the SEC, most of the spot Ethereum ETF filers have been taking steps to prepare for the offering.
On June 25, <a href="https://coingape.com/breaking-vaneck-files-form-8a-for-spot-ethereum-etf/" target="_blank" rel="noopener noreferrer nofollow">VanEck filed its 8-A</a> form as part of the process leading to the launch of any ETF product. The Form 8-A is a registration that allows issuers to trade the ETF on an exchange. More recently, <a href="https://coingape.com/21shares-files-form-8a-for-spot-ethereum-etf-after-vaneck/" target="_blank" rel="noopener noreferrer nofollow">21Shares has also submitted the Form 8-A</a> for its Spot Ethereum ETF application to the U.S. SEC. This has helped it in solidifying its position amongst its counterparts.
Additionally, Franklin Templeton has set its sponsor fee for 0.19% and <a href="https://coingape.com/vaneck-declares-zero-fee-for-spot-ethereum-etf-gearing-up-for-july-2-launch//" target="_blank" rel="noopener noreferrer nofollow">VanEck</a> declared zero fee for its potential product from the outset.
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The post <a href="https://coingape.com/heres-an-important-date-in-spot-ethereum-etf-pursuit-to-watch/" rel="noopener noreferrer nofollow">Here’s An Important Date In Spot Ethereum ETF Pursuit To Watch</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Here’s An Important Date In Spot Ethereum ETF Pursuit To Watch

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