SEC Approves Key Documents for Ethereum Spot ETF, Investors Await Approval of S-1 Form

SEC Approves Key Documents for Ethereum Spot ETF, Investors Await Approval of S-1 Form

SEC Approves Key Documents for Ethereum Spot ETF, Investors Await Approval of S-1 Form

The U.S. Securities and Exchange Commission (SEC) approved the critical regulatory document related to the Ethereum spot ETF, submitted by Cboe, NYSE Arca, and Nasdaq on Thursday (23rd) Eastern Time, bringing these funds one step closer to potential listing.

These three exchanges are seeking to list Ethereum spot ETFs from VanEck, Ark Invest, BlackRock, Fidelity, Franklin Templeton, Bitwise, Grayscale, and Invesco. However, investors still need to wait for the SEC to approve the S-1 registration statement submitted by the fund issuer before trading such ETFs can begin.

James Seyffart, an analyst at Bloomberg Intelligence, stated on the X platform that they expect the approval of the S-1 document to take several weeks, but it could take longer. There should be more news in about a week. Seyffart also added that this process typically takes several months, but he and another Bloomberg analyst, Eric Balchunas, believe it will be expedited at least to some extent. A Bitcoin ETF took at least 90 days, and there will be more news soon. Balchunas also speculated based on the approval status of the Bitcoin ETF that “mid-June is definitely possible.”

Matthew Sigel, Head of Digital Asset Research at VanEck, expressed appreciation for the SEC’s ruling in an article on Thursday, stating, “We believe the evidence clearly shows that ETH is a decentralized commodity, not a security.”

Sigel added: “Data source