The launch of U.S.-based spot Ethereum exchange-traded funds (ETFs), initially expected in early July, has been delayed by the U.S. Securities and Exchange Commission (SEC).
Bloomberg ETF analysts Eric Balchunas and James Seyffart reported that the SEC has requested further revisions to the S-1 forms submitted by prospective spot Ether ETF issuers. This additional review has pushed the expected launch date to mid-to-late July.
SEC Requests Revisions
The SEC commented on the S-1 forms and requested resubmissions by July 8. This adjustment means the launch of the spot Ethereum ETFs might be postponed until mid-to-late July. According to Balchunas, this new timeline indicates a delay beyond the originally anticipated early July launch window.
Nate Geraci, president of ETF Store, noted that the recent round of S-1 revisions was minor. He predicts that the SEC will approve issuers for trading within 14 to 21 days following the resubmission. Although the exact timeline is still uncertain, there is an expectation for a potential launch this summer.
Earlier in June, Balchunas had predicted an early July launch for the ETFs, based on the initial lack of substantial comments from SEC staff regarding the S-1 filings.
Two-Step Process for Ethereum ETFs
The approval of the S-1 forms is the second part of a two-step process required for the ETFs to go live. The first part involved the approval of the issuers’ 19b-4 forms in May. The SEC approved 19b-4 filings from eight ETF bidders on May 23. Unlike the 19b-4 forms, the S-1 forms are not bound to a specific deadline, meaning issuers are dependent on the SEC’s timeline for review and approval.
Summary Review: While the launch of spot Ethereum ETFs has been delayed, the SEC’s ongoing review suggests a potential mid-to-late July launch, keeping the crypto community and investors eagerly awaiting the final approval.
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