Spot Ethereum ETF issuers are awaiting the SEC's first comments on Forms S-1 this week.#TheBlockreports.
And they were waiting for these comments by the end of last week, June 7. The commission is delaying the process. Although on May 30 she herself hurried the issuers. Now The Block's sources at the two issuers say they have yet to receive feedback.
As a reminder, without approved S-1 forms, a product cannot enter the market. Forms 19b-4 were approved on May 24, and this is a “yes” in principle from the regulator. But this is not enough for listings.
Last week, on June 5, SEC Chairman Gary Gensler made it clear on#CNBCthat the agency is in no hurry to finalize the approval and launch of spot Ethereum ETFs. Waiting is generally not bad and, moreover, it is often a growth factor. But so far there is no excitement around #ETH. Market players look back at#BTCshowing weakness. There is no faith in #ETH's ability to go against the#BTCtrend. Even for something like a spot ETF.
Interest in#ETHamong institutional investors is growing, but:
- Not at a huge pace.
- Partly due to the flow of liquidity from other altcoins, and not a new influx of liquidity into the market (as evidenced by the latest#Coinsharesdata for the past week).
