Ethereum ETF issuers are eagerly awaiting comments on their S-1 filings from the U.S. securities regulator, expected to come in this week. The S-1 forms, which require detailed business and security information, are the next step in the process after the 19b-4 form approvals were completed on May 23.
Initial drafts of the S-1 forms were submitted to the SEC on May 31, but issuers have not yet received any feedback from the regulator. Despite expecting comments by June 7, at least two issuers are still waiting for feedback. The S-1 forms are crucial for listing spot Ethereum ETFs, requesting information on the use of capital proceeds, business model, competition, and security details.
Ethereum ETF issuers are remaining hopeful, with sources predicting at least two more rounds of draft filings before final approval. SEC Chair Gary Gensler has indicated that the approval process will take some time, aligning with the anticipation of multiple rounds of revisions for the S-1 forms. While a concrete timeline for feedback and final approval has not been provided by the SEC, issuers are preparing for potential delays.
Several issuers, such as VanEck and BlackRock, have made amendments to their S-1 forms and detailed plans for their ETFs, including initial seed funding and fees. Franklin Templeton, for instance, has outlined a 0.19% fee for its ETFs. Despite the uncertainty surrounding the approval timeline, issuers are actively preparing for the eventual listing of their Ethereum ETFs.
The SEC’s lack of deadlines for feedback or final approval has left Ethereum ETF issuers in a state of limbo, unable to move forward with their plans until they receive regulatory approval. As they continue to wait for comments on their S-1 filings, issuers are closely monitoring the progress of their ETFs and making necessary preparations for a potential launch in the future.
In conclusion, Ethereum ETF issuers are on standby as they await comments on their S-1 filings from the SEC, with expectations of receiving feedback this week. The approval process, which includes multiple rounds of revisions, is ongoing, and issuers are working diligently to ensure their ETFs meet the necessary regulatory requirements for listing. Despite the uncertainty surrounding the timeline, issuers are optimistic about the eventual approval of their Ethereum ETFs and are preparing for a potential launch in the near future.
Discussion about this post