Discus Fish, the founder of Bitcoin mining pool F2Pool and digital asset custody solution provider Cobo, shared his views on the subsequent application progress and transaction status of the Ethereum spot ETF on the X platform on Friday (24th). He believes that based on the experience of Bitcoin ETFs and public market information, in the fastest case, the S-1 registration statement of the Ethereum spot ETF may be passed in early June and listed for trading in mid-June.

Based on the experience of BTC ETF and public market information, the timeline of ETH ETF is as follows: – May 23: ETH 19B4 passed unexpectedly, and market makers began to buy ETH spot to prepare for providing liquidity. – Early June: S1 may pass. Referring to BTC ETF, the fastest time is 2 weeks, but the normal rhythm may take 3 months. – Mid-June: After S1 passes, trading may start immediately, or within a few days. -…

— DiscusFish (@bitfish1) May 24, 2024

According to previous reports by Zombit, the U.S. Securities and Exchange Commission (SEC) earlier today approved the 19b-4 proposal related to Ethereum spot ETFs, bringing the potential listing of these funds one step closer. However, investors must still wait for SEC approval of the S-1 registration statement filed by the fund's issuer before they can begin trading such ETFs.

According to Shenyu, the 19b-4 proposal for the Ethereum Spot ETF was unexpectedly passed, and market makers began to purchase Ethereum (ETH) spot in preparation for providing liquidity. Referring to the situation of Bitcoin ETFs, he said that the S-1 form may take up to two weeks to be approved, "but the normal pace may take 3 months." If the S-1 passes in early June, an Ethereum spot ETF could begin trading in mid-June.

Shenyu also made predictions about the trading situation of the Ethereum spot ETF after its listing. He wrote:

"June to December: The main capital inflow in the early stage of listing may come from retail investors, accounting for 80 to 90% of the total funds; institutional users participate less. Considering that ETHE is similar to GBTC (Grayscale Bitcoin Trust Fund), the market may face some Arbitrage and selling pressure, it remains to be seen whether institutional investors will gradually enter the market after December.”

Shenyu’s view is similar to that expressed earlier by Bloomberg Intelligence analyst James Seyffart. Seyffart expects the approval of the S-1 filing may take a few weeks, but it may be longer. “Usually this process takes A few months' time." Another Bloomberg analyst, Eric Balchunas, speculated that “mid-June is definitely possible” based on the approval status of Bitcoin ETFs.

This article Cobo founder Shenyu: The Ethereum spot ETF S-1 document may be passed as soon as early June, and trading will begin in mid-June. It first appeared on Zombit.