Are Spot Ethereum ETFs Set To Launch In 14 Days Post-S-1 Amendments?

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Are Spot Ethereum ETFs Set To Launch In 14 Days Post-S-1 Amendments?

There are still speculations about when the United States Securities and Exchange Commission (SEC) would give its approval to spot Ethereum ETF trading.

Last Round of S-1 Revisions For Spot Ethereum ETFs

After requesting that applicants submit their S-1 amendment filings, the securities regulator received eight registrations in total. These filings were from BlackRock, Fidelity, 21Shares, Grayscale, Franklin Templeton, VanEck, iShares, and Invesco. Thereafter, the Chairman of the SEC Gary Gensler confirmed that the approval process for spot Ethereum ETF is going smoothly.

In the screenshot shared by ETFstore President Nate Geraci, it was noted that the last round of S-1 revisions was quite “light.” As a result, the Commission is likely to communicate a date for commencement of trading to applicants very soon.

If this is the case, spot Ethereum ETF applicants may not have to bother about making any major adjustments to their proposed rule change.  This is because the SEC could have only a few additional comments, if there would be any at all.

Overall, the “ball lies in the court” of the SEC at this time.  The source in Geraci’s screenshot highlighted the approval is expected within the next two to three weeks.

Spot Ethereum ETF Trading Approval in July 

This is still in line with analysts who previously speculated that the approval could come in the first week of July, either before 2nd or 4th. A few days ago, Geraci noted that the next two weeks are going to be crucial for the crypto market.

Bitwise CEO Hunter Horsley is one of those who suggested the likelihood of an approval by July 4. He hinted at a major announcement, stating that everyone should “Keep an eye on Bitwise Invest tomorrow. Something cool.” Bitwise ended up filing its S-1 amendments, before a few of the other applicants.

As it stands, most of the spot Ethereum ETF applicants may only have to decide on their sponsor fee, a subject that they are avoiding.

Only Franklin Templeton and VanEck have revealed their fees, capping them at 0.19% and 0.20%, respectively. However, VanEck recently decided to adopt zero fees for its potential spot Ethereum ETF. The waive would run for an unspecified time till 2025, or until the assets hit $1.5 billion.

Read More: Bitcoin Price Slides As US Government Moves 4,000 BTC To Coinbase Prime

 

The post Are Spot Ethereum ETFs Set To Launch In 14 Days Post-S-1 Amendments? appeared first on CoinGape.

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