LIVE### ๐จ JUST IN: #SECCryptoAccounting Issues Statement on Ethereum ETFs โ Big Day Tomorrow, Sources Say ๐จ
The US Securities and Exchange Commission (SEC) has taken a significant step forward in the approval process for spot Ethereum ETFs. Here's what you need to know:
๐ **Submission Deadline:** Companies issuing spot Ethereum ETFs must submit draft S-1 forms by the week's end.
๐ **Milestone:** Approval of forms 19b-4 on May 23 marked a crucial milestone.
๐ **S-1 Forms:** Finalization is next, but last-minute changes from the SEC delayed preparation.
๐ **Feedback Loop:** The SEC will review draft S-1 filings and provide feedback, requiring further adjustments.
๐ **Key Players:**
- **VanEck:** Filed a modified version of its S-1 form.
- **#BlackRock:** Detailed a $10 million funding for its #ETF on May 30.
๐ **Complex Process:** Seed investment details are straightforward, but other aspects may require more time.
๐ **Draft Rounds:** At least two more rounds of drafts are expected before S-1 forms are finalized.
๐ **Timeline:** Analysts predict that completing S-1 forms will take several weeks, potentially extending to several months.
๐ **Market Impact:** Some traders see the delay positively, allowing for thorough scrutiny and potentially contributing to a more stable market once trading begins.
*This is not investment advice.
