Key Takeaways:
- The SEC has delayed the launch of spot Ether ETFs, requesting resubmission of S-1 forms by July 8, pushing the expected launch to mid-to-late July.
- Bloomberg analysts and industry experts predict approval within 14-21 days, with the SEC’s progress allowing major issuers like BlackRock and Fidelity to participate.
- Final listing on stock exchanges could be delayed until September, depending on response times from applicants, despite progress in the approval process.
The U.S. Securities and Exchange Commission (SEC) has postponed the launch of spot Ether exchange-traded funds (ETFs) in the United States, which was initially expected as early as July 2.
The SEC has requested resubmission of S-1 forms by July 8, delaying the launch to mid-to-late July.
Unfort think we gonna have to push back our over/under till after holiday. Sounds like SEC took extra time to get back to ppl this wk (altho again very light tweaks) and from what I hear next wk is dead bc holiday = July 8th the process resumes and soon after that they’ll launch… https://t.co/0ZQR7yiBLt
— Eric Balchunas (@EricBalchunas) June 28, 2024
Bloomberg analysts Eric Balchunas and James Seyffart noted this extension, while Nate Geraci from ETF Store predicts approval within 14-21 days, still expecting a summer launch.
Fwiw, sources close to spot eth ETF filings…
— Nate Geraci (@NateGeraci) June 26, 2024
“B/c last round of S-1 revisions were so light, SEC could contact issuers at any point w/ date as to when funds can launch.”
“Timeline to launch is not clear, but we reasonably expect it would be in next 2-3 weeks.”
via @strack_ben pic.twitter.com/rhGtISVTEp
The approval of S-1 forms is the second step in the process, following the approval of 19b-4 forms in May.
SEC Chair Gary Gensler confirmed progress in the approval process, allowing major issuers like BlackRock and Fidelity to participate, but indicated that final listing on stock exchanges could be delayed until September, depending on applicant response times.
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