The anticipated launch of U.S. spot Ether exchange-traded funds (ETFs) has been postponed due to the U.S. Securities and Exchange Commission (SEC) requiring revisions on the S-1 forms. Initially expected around July 2, the launch may now occur in mid-to-late July.
SEC Comments Cause Delays
Bloomberg analysts Eric Balchunas and James Seyffart reported that the SEC’s comments and requests for resubmissions have pushed the potential launch date. Resubmissions are due by July 8, which could delay the ETFs’ debut until later in the month.
Nate Geraci, president of ETF Store, mentioned that recent revisions were minor and anticipates clearance from the SEC within 14–21 days. Although uncertain, the SEC suggests a summer launch is still possible.
Approval Process for Ethereum ETFs
The process involves two steps: the approval of the 19b-4 forms, completed in May for eight bidders, and the review of S-1 forms. Unlike the 19b-4 forms, S-1 forms lack a specific deadline, making the timeline dependent on the SEC’s review pace.
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SEC Chair Gary Gensler noted that the approval process is progressing, yet stated that listing spot Ether ETFs on stock exchanges might take until September. The timeline largely depends on the applicants’ response speed.
Future Implications
Major firms like BlackRock, Fidelity, and Grayscale have been approved for participation, with filings indicating preparations for exchange listings. However, the exact timing remains contingent on further SEC reviews and issuer responses.
