Potential issuers of Ethereum spot exchange-traded funds (ETFs) were informed by the U.S. Securities and Exchange Commission (SEC) on Monday (15th) that these funds can begin trading next Tuesday, CoinDesk reported, citing two people familiar with the matter.
One of the sources said SEC staff told an issuer that the regulator had no further comments on the recently filed S-1 document, and that the final version needs to be submitted by Wednesday, after which the funds can ) is listed on the exchange. Another source said trading is likely to begin on Tuesday after the Ethereum spot ETF becomes effective next Monday.
Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, first reported the development on social media.
Update: Nate's instincts were right, hearing SEC finally gotten back to issuers today, asking them to return FINAL S-1s on Wed (incl fees) and then request effectiveness on Monday after close for a TUESDAY 7/23 LAUNCH. This is provided no unforeseeable last min issues of course! https://t.co/D21FD9Qf94
— Eric Balchunas (@EricBalchunas) July 15, 2024
Ethereum (ETH) has continued its upward trend from last week, gaining around 4% in the last 24 hours and gaining around 15% in the past week. ETH was trading at $3,467 at press time.
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