Possible launch of Ethereum ETFs next month:
- The newly approved spot Ether exchange-traded funds could launch as early as mid-June.
- The launch depends on if the U.S. securities regulator follows a similar timeline to its spot Bitcoin ETF process.
- Spot Ether ETFs got the green light for their 19b-4 filings, which allows the funds to be listed on their respective exchanges.
- Applicants will first need approved S-1 registration statements to begin trading.
- Bloomberg ETF analyst James Seyffart has been saying S-1 approvals could come in a “couple of weeks,” but also noted that they “could take longer” as the process typically takes up to five months.
- Fellow Bloomberg ETF analyst Eric Balchunas responded that “mid-June is certainly possible.”
- Balchunas expects there will only be one round of comments to the S-1 amendments, similar to how the SEC provided feedback for spot Bitcoin ETF applicants.
- He noted that the process took around two weeks, which is how he arrived at his mid-June estimate.
- "Just a guess, though. We will see,” Balchunas stressed.
- VanEck filed its amended S-1 shortly after having its 19b-4 approved, while other applicants are expected to follow suit imminently.
- However, Delphi Labs general counsel Gabriel Shapiro noted the SEC’s approval was made by its Division of Trading and Markets unit on a “delegated authority” — claiming that one of the five SEC Commissioners could challenge the decision within the next 10 days.
