If the US Securities and Exchange Commission (SEC) does not approve a spot Ethereum ETF in May 2024, it will do so by mid-2025. This opinion was expressed by lawyer Scott Johnsson.
SEC simultaneously issued initial comment letters on issuers’ BTC spot ETF reg statements on 9/29/2023. We saw amended S-1s show up about 2 weeks later… so about 90 days ahead of the Jan 10 deadline. We’re now 90 days out from May 23rd deadline for ETH spot ETFs. pic.twitter.com/BnVWLTIcZz
— Scott Johnsson (@SGJohnsson) February 23, 2024
“On September 29, 2023, the SEC simultaneously published initial comment letters on the Bitcoin Spot ETF applications. The corrected S-1 forms appeared approximately two weeks later. Those. It's about 90 days before the January 10, 2024 deadline. We now have 90 days left until the May 23 deadline for spot Ethereum ETFs,” he wrote.
At the same time, according to the lawyer, there is enough reason to believe that the SEC will deviate from its previous schedule and delay the S-1 comment process until 19b-4 is approved.
Confidence relatively high that if not May 2024, then by mid 2025 it should come.
— Scott Johnsson (@SGJohnsson) February 23, 2024
“There is relatively high confidence that if not in May 2024, then by mid-2025,” Johnsson added.
Bloomberg stock analyst James Seyffarth said that the SEC does not need as much time to process applications for Ethereum-ETF as with the first cryptocurrency, since a significant part of the documents can be based on Bitcoin-ETF.
#Ethereum... #EthereumETF
