On the 21st, US time, 8 Ethereum spot ETF applicants have submitted updated versions of their S-1 documents, including: Bitwise, Fidelity, VanEck, Franklin, 21Shares, Grayscale, BlackRock and Invesco. Bloomberg ETF analyst Eric Balchunas reiterated last night that July 2 will be the launch date of the Ethereum spot ETF.
As for when the Ethereum spot ETF will be approved by the U.S. Securities and Exchange Commission (SEC) for listing, the market is closely watching the progress of the S-1 registration statement. On June 13, SEC Chairman Gary Gensler said that the SEC is expected to approve the S-1 registration application for the Ethereum spot ETF "sometime this summer."
Bloomberg ETF analyst Eric Balchunas revealed on the 15th that he had heard that the SEC provided issuers with comments on the S-1 documents. These comments were brief and did not pose any major problems, and they were required to respond within a week. At the time, he said:
There is a good chance that the (SEC) will formally approve these ETFs next week and resolve this issue before the holiday weekend. We are moving up the launch date of the Ethereum spot ETF to July 2nd.
Ethereum spot ETF applicant submits updated S-1 filing to SEC
Last night (21), Eric Balchunas published the list of applicants who submitted updated S-1 documents to the SEC on X. Eight Ethereum spot ETF applicants have submitted, including: Bitwise, Fidelity, VanEck, Franklin, 21Shares, Grayscale, BlackRock and Invesco. Among them, Franklin set the fee at 0.19% last month, VanEck announced its fee at 0.2%, and BlackRock disclosed a $10 million seed investment.
Eric Balchunas said earlier that the SEC must now review the documents and let the issuer know any final changes that need to be made before final approval. He once again reiterated that July 2 will be the launch date for the Ethereum spot ETF.
Former SEC lawyer: SEC ending Ethereum investigation does not mean ETH is not a security
There has been a lot of good news about Ethereum recently. On the 19th, Consensys, the parent company of Metamask, the little fox wallet, announced that the SEC enforcement department notified them that it was ending its investigation into Ethereum 2.0, and said that this meant that the SEC would not accuse ETH sales of securities transactions.
Although some in the community believe that this is equivalent to the SEC's recognition that Ethereum is a commodity rather than a security. However, Teresa Goody Guillén, former litigation counsel at the SEC, said in an email that the SEC's end of its investigation into Ethereum does not mean that the commission has definitely concluded that Ether is not a security. She said:
But it does provide another perspective that the Commission has concluded it will not take action claiming that ether is a security at this time.
The former SEC lawyer said the SEC may decide to drop the investigation because it believes that Ethereum is not a security or because the agency cannot afford the risk of litigation. He further explained:
The SEC might come out and say, okay, you know the ETH issued by Consensys is not a securities transaction, but ETH in other forms might be issued as a security by the SEC, or the SEC might make more statements.
I think the important thing to remember is that closing the investigation doesn’t necessarily mean they’ve concluded that Ethereum isn’t a security, it could just be that they’ve decided they don’t want to risk a lawsuit.
On the 21st, US time, 8 Ethereum spot ETF applicants have submitted updated versions of their S-1 documents, including: Bitwise, Fidelity, VanEck, Franklin, 21Shares, Grayscale, BlackRock and Invesco. Bloomberg ETF analyst Eric Balchunas reiterated last night that July 2 will be the launch date of the Ethereum spot ETF.
As for when the Ethereum spot ETF will be approved by the U.S. Securities and Exchange Commission (SEC) for listing, the market is closely watching the progress of the S-1 registration statement. On June 13, SEC Chairman Gary Gensler said that the SEC is expected to approve the S-1 registration application for the Ethereum spot ETF "sometime this summer."
Bloomberg ETF analyst Eric Balchunas revealed on the 15th that he had heard that the SEC provided issuers with comments on the S-1 documents. These comments were brief and did not pose any major problems, and they were required to respond within a week. At the time, he said:
There is a good chance that the (SEC) will formally approve these ETFs next week and resolve this issue before the holiday weekend. We are moving up the launch date of the Ethereum spot ETF to July 2nd.
Ethereum spot ETF applicant submits updated S-1 filing to SEC
Last night (21), Eric Balchunas published the list of applicants who submitted updated S-1 documents to the SEC on X. Eight Ethereum spot ETF applicants have submitted, including: Bitwise, Fidelity, VanEck, Franklin, 21Shares, Grayscale, BlackRock and Invesco. Among them, Franklin set the fee at 0.19% last month, VanEck announced its fee at 0.2%, and BlackRock disclosed a $10 million seed investment.
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Eric Balchunas said earlier that the SEC must now review the documents and let the issuer know any final changes that need to be made before final approval. He once again reiterated that July 2 will be the launch date for the Ethereum spot ETF.
Former SEC lawyer: SEC ending Ethereum investigation does not mean ETH is not a security
There has been a lot of good news about Ethereum recently. On the 19th, Consensys, the parent company of Metamask, the little fox wallet, announced that the SEC enforcement department notified them that it was ending its investigation into Ethereum 2.0, and said that this meant that the SEC would not accuse ETH sales of securities transactions.
Although some in the community believe that this is equivalent to the SEC's recognition that Ethereum is a commodity rather than a security. However, Teresa Goody Guillén, former litigation counsel at the SEC, said in an email that the SEC's end of its investigation into Ethereum does not mean that the commission has definitely concluded that Ether is not a security. She said:
But it does provide another perspective that the Commission has concluded it will not take action claiming that ether is a security at this time.
The former SEC lawyer said the SEC may decide to drop the investigation because it believes that Ethereum is not a security or because the agency cannot afford the risk of litigation. He further explained:
The SEC might come out and say, okay, you know the ETH issued by Consensys is not a securities transaction, but ETH in other forms might be issued as a security by the SEC, or the SEC might make more statements.
I think the important thing to remember is that closing the investigation doesn’t necessarily mean they’ve concluded that Ethereum isn’t a security, it could just be that they’ve decided they don’t want to risk a lawsuit.
