👉👉👉 JUST IN: #SEC Issues Statement on Ethereum ETFs – Big Day Tomorrow, Sources Say

The US Securities and Exchange Commission (SEC) has reportedly instructed companies issuing spot Ethereum ETFs to submit draft S-1 forms by the week's end, marking a crucial step toward approval for these financial products.

Following the approval of forms 19b-4 on May 23, a significant milestone, the next step in the process is for S-1 forms to be finalized. However, due to last-minute changes from the SEC, companies were unable to prepare these forms in advance.

Upon receiving the draft S-1 filings, the SEC will provide initial feedback, prompting further adjustments, according to sources familiar with the matter. Despite the initial setback, the process is progressing well.

VanEck and #BlackRock were quick to respond to the ETF approval, with VanEck filing a modified version of its S-1 form and BlackRock detailing a $10 million funding for its #ETF✅ on May 30.

While seed investment details are relatively straightforward to include, other aspects of the forms may require more time. Some sources anticipate at least two more rounds of draft filings before the S-1 forms are ready.

Analysts predict that completing S-1 forms will take several weeks, possibly extending to several months if the process proceeds slowly. However, some traders view the delay positively, as it allows for more thorough scrutiny and may contribute to a more stable market once trading begins.

*This is not investment advice.

Source - en.bitcoinsistemi.com