The Block quotes sources familiar with the matter as reporting that the issuer planning to launch an Ethereum spot ETF received comments from the U.S. Securities and Exchange Commission (SEC) on its S-1 filing last week, and the issuer needs to make modifications to these documents and submit them by Friday.
According to Zombit’s previous report, the 19b-4 filing for the Ethereum ETF issuer was approved in May, but they still need to wait for the S-1 filing to become effective before they can start trading. Currently, these documents are being revised and resubmitted to the SEC for further review until the SEC deems them ready.
A source from one issuer stated that the recent round of comments was “reasonable,” and they expect approval soon. Another source from an issuer described these comments as only requiring minor adjustments.
“I expect you’ll see people file this week quickly, and then we’ll see how many more iterations are needed.”
Bloomberg’s Senior ETF Analyst Eric Balchunas posted on Twitter claiming he heard similar comments about the progress of the S-1 filing and adjusted his prediction date for these products to be listed to July 2. He noted that this is just a best guess.
The SEC has not specified when they will approve the S-1 form, but SEC Chairman Gary Gensler has revealed that it could be approved at some point this summer, later adding in an interview that the timing of approval will largely depend on how quickly the issuers respond to institutional feedback.
It is currently unclear what impact an Ethereum ETF listing will have, but some analysts predict that it could attract approximately 20% of the inflows that a Bitcoin ETF would attract.
Successful Conclusion of CoinEx Taiwan’s 7th Anniversary Celebration, Embracing the Arrival of the Web3 Era Hand in Hand with Users
Since its establishment in 2017, CoinEx has been a professional cryptocurrency trading pla…