Key Date Approaches for Ethereum ETFs
The SEC has asked issuers to refile S-1 amendments for spot Ethereum ETFs by July 8, as noted by Nate Geraci, President of ETFStore. This follows light comments from the SEC on initial filings.
Analysts' Predictions and Adjustments
Initially, analysts expected the rule change by July 4, but the new refiling date pushes potential approval. Bloomberg's Eric Balchunas and James Seyffart had speculated a launch next week, but that seems unlikely now.
Awaiting Approval
Issuers like VanEck, BlackRock, Fidelity, and others approved in May, will have to wait at least two more weeks. SEC Chairman Gary Gensler hinted at a summer approval timeline, which aligns with current proceedings.
Final Preparations
VanEck and 21Shares have filed Form 8-A, necessary for trading on an exchange. Franklin Templeton set its sponsor fee at 0.19%, while VanEck offers a zero-fee product. The approval process is reported to be progressing smoothly.
