With the investment product’s arrival imminent, 21Shares has officially filed its updated S-1 form for its Spot Ethereum ETF. This makes 21Shares the second issuer to take this step, following asset manager VanEck’s updated S-1 submission earlier today.
SEC Decision Awaited
All eyes are now on the US Securities and Exchange Commission (SEC). The amended filings have led many experts to predict that the Ethereum ETF could launch within the next two weeks. Additionally, the market expects other issuers to follow 21Shares and VanEck in submitting their updated filings.
In a significant move for the crypto market, 21Shares has submitted its updated S-1 form for the Spot Ethereum ETF. This follows VanEck’s similar filing, signaling a pivotal moment for crypto-based ETFs in 2024. Notably, Bloomberg analyst Eric Balchunas highlighted that all other issuers, except for Bitwise, which filed last week, are expected to follow suit. According to Balchunas, the ball is now “back in the SEC’s court.”
Also Read: 21Shares Files for Spot Solana ETF, Following VanEck’s Lead
Expert Predictions
ETF expert Nate Geraci noted that the updated filings could change the timeline for the ETH product’s launch. Geraci, co-founder of the ETF Institute, predicts that the products could go live by July 15th. This suggests that the SEC is likely to approve the recent filings within the next week or two.
The anticipation of the Spot ETH ETF has already impacted Ethereum’s performance. The asset surged past the $3,000 mark earlier today, with trading volume increasing by 116%, according to CoinMarketCap. The arrival of the Spot ETH ETF is expected to trigger a significant rally for the asset.
