Here’s An Important Date In Spot Ethereum ETF Pursuit To Watch

News

Here's An Important Date In Spot Ethereum ETF Pursuit To Watch

Spot Ethereum ETFs trading approval just got closer with the United States Securities and Exchange Commission (SEC) scheduling a date for S-1 refiling.

Crucial Date To Watch

Nate Geraci, the President of ETFStore, noted that the SEC has returned the S-1 amendments for spot Ethereum ETF products with a few light comments.

Consequently, potential issuers are expected to address the comments and refile their registration by July 8. The ETFStore executive highlighted the possibility of a final round before the regulator gives a nod to spot Ethereum ETF trading. Markedly, this is after the issuers must have refiled their registration.

Several analysts looked forward to having the proposed rule change in the market on or before July 4. Bloomberg ETF analysts Eric Balchunas and James Seyffart also estimated to launch next week. However, the date scheduled for refiling already shows that the speculated day is not feasible.

As it stands, VanEck, BlackRock, Fidelity Investments, Grayscale Investments, Ark 21Shares, Invesco Galaxy, Franklin Templeton, and Bitwise which all received approval for the spot Ethereum ETF product in May will have to wait for at least two more weeks before trading can commence.

This still aligns with Gary Gensler‘s earlier statement about the timeline for the launch of the Ethereum ETF product. The Chairman of the Commission was not so specific about any date but he stated that approvals for offerings like Ethereum ETF usually come “sometime over the course of this summer”.

He also confirmed that the approval process for spot Ethereum ETF is going smoothly, therefore, issuers may have nothing to worry about.

Spot Ethereum ETF In Final Stages

While awaiting the final approval from the SEC, most of the spot Ethereum ETF filers have been taking steps to prepare for the offering.

On June 25, VanEck filed its 8-A form as part of the process leading to the launch of any ETF product. The Form 8-A is a registration that allows issuers to trade the ETF on an exchange. More recently, 21Shares has also submitted the Form 8-A for its Spot Ethereum ETF application to the U.S. SEC. This has helped it in solidifying its position amongst its counterparts.

Additionally, Franklin Templeton has set its sponsor fee for 0.19% and VanEck declared zero fee for its potential product from the outset.

Read More: Bitcoin Bull Run at Risk? Bloomberg Analyst Warns Of Dominance Reversal In Q2

The post Here’s An Important Date In Spot Ethereum ETF Pursuit To Watch appeared first on CoinGape.

Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0

PRC Comment Policy

Your comments MUST BE constructive with vivid and clear suggestion relating to the post.

Your comments MUST NOT be less than 5 words.

Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.

Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.

Constructive REPLY to comments is allowed

Leave a Reply