Ethereum

Spot

James

The spot Ethereum ETFs that experts such as Bloomberg ETF analysts Eric Balchunas and James Seyffart estimated to launch next week have been further delayed by the U.S. Securities and Exchange Commission (SEC). The SEC issued a few comments on the S-1 form submitted by spot Ethereum ETF issuers, with refiling expected in the coming weeks. 
<h2 id="sec-comments-postpones-spot-ether-etf-launch">SEC Comments Postpones Spot Ether ETF Launch</h2> 
The U.S. SEC in the latest comments has asked the spot Ethereum ETF issuers to submit the S-1 forms by July 8, according to people familiar with the matter. This means the spot Ethereum ETFs launch is delayed to mid-July or July-end. 
SEC Chair Gary Gensler recently 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">spot Ethereum ETF</a> is going smoothly after issuers including BlackRock, Fidelity, 21Shares, Grayscale, Franklin Templeton, VanEck, iShares, and Invesco. The Ether ETF issuers such as <a href="https://coingape.com/breaking-vaneck-files-form-8a-for-spot-ethereum-etf/" target="_blank" rel="noopener">VanEck</a> have also filed Form 8-A in preparation for listing on exchanges by July 8. 
The delay puts Ethereum holders in limbo. ETFstore President Nate Geraci earlier noted that the last round of S-1 revisions was quite “light” and the regulator will likely clear issuers for trading within the next 14-21 days. While the exact timeline is unclear, the SEC hinted at a potential launch this summer. 
Also Read: <a href="https://coingape.com/eth-btc-pair-eyes-major-breakout-with-ethereum-etf-on-horizon-whats-next/" target="_blank" rel="noopener">ETH/BTC Pair Eyes Major Breakout With Ethereum ETF on Horizon, What’s Next?</a> 
<h2 id="eth-price-to-drop-due-to-delay">ETH Price to Drop Due to Delay?</h2> 
Market participants have criticized the move by the SEC as Ethereum and the broader crypto market are already trading under selloff pressure. The odds of Ethereum ETF launch next week ignited hopes of altseason as ETH/BTC price was finally moving above the 365 simple moving average. 
<img decoding="async" class="aligncenter" src="https://pbs.twimg.com/media/GRL6SPyWgAE95cW?format=jpg&amp;name=medium" alt="Image" width="769" height="436"> 
<a href="https://coingape.com/price/ethereum" target="_blank" rel="noopener">ETH price</a> fell over 1% in the past 24 hours, with the price currently trading at $3,384. The 24-hour low and high are $3,363 and $3,467, respectively. Furthermore, the trading volume has decreased further by 8% in the last 24 hours, indicating a decline in interest among traders. 
Also Read: <a title="Ripple Vs SEC: Judge Torres Doctrine Stands, XRP Secondary Sales Are Not Securities" href="https://coingape.com/ripple-vs-sec-judge-torres-doctrine-stands-xrp-secondary-sales-are-not-securities/" target="_blank" rel="bookmark noopener">Ripple Vs SEC – Judge Torres Doctrine Stands, XRP Secondary Sales Are Not Securities</a> 
The post <a href="https://coingape.com/us-sec-delays-spot-ethereum-etf-launch-sends-back-s-1-forms/">US SEC Delays Spot Ethereum ETF Launch, Sends Back S-1 Forms</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

US SEC Delays Spot Ethereum ETF Launch, Sends Back S-1 Forms

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