Insiders: US SEC Demands Ether ETF Issuers Submit Initial S-1 Drafts by Friday

Insiders: US SEC Demands Ether ETF Issuers Submit Initial S-1 Drafts by Friday

Insiders: US SEC Demands Ether ETF Issuers Submit Initial S-1 Drafts by Friday

According to the report cited by The Block, the U.S. Securities and Exchange Commission (SEC) has requested that Ether spot ETF issuers submit their S-1 draft filings by Friday. Afterward, the SEC will provide its initial comments for further revisions.

On the same day that the 19b-4 proposal related to the Ether spot ETF was approved last week, VanEck immediately submitted a revised version of its S-1 form. BlackRock also submitted a revised S-1 document this Thursday, detailing that its ETF will receive $10 million in seed funding.

However, a source mentioned that the details of the seed investment are relatively straightforward for the issuers, which suggests that other aspects of the form may require more time to process. They stated that it is expected that the S-1 form will need at least two more rounds of draft submissions before it is ready.

Currently, investors still need to wait for the approval of the S-1 document before trading the Ether spot ETF. According to a previous report by Zombit, Bloomberg ETF analyst Eric Balchunas stated that BlackRock’s submission of the revised S-1 is a “good sign” and other revisions may be seen soon, followed by a round of minor adjustments from the staff. Balchunas also believes that a listing by the end of June is a reasonable possibility, although he still expects the listing date to be July 4th.