Key Points
- Ethereum ETF issuers are reportedly waiting for the SEC’s comments on their S-1 applications.
- Sources claim they still haven’t received feedback.
According to the latest reports, Ethereum ETF issuers are still waiting for the SEC’s comments regarding their S-1 applications that have already been submitted on May 31.
Sources familiar with the situation noted that feedback from the US regulator is yet to come. The issuers have been anticipating the SEC would offer comments on these drafts on June 7, a source said based on conversations with the agency.
It has been reported that at least two issuers have not yet received feedback yet. The sources mentioned above believe that the comments are set to come during this week.
The reports come after the SEC’s Fary Gensler said on CNBC that the approval of the S-1 forms would take time.
It’s still not clear how long it will take until the US regulator eventually offers feedback to ETH ETF issuers about their submitted S-1 forms.
Ethereum ETFs’ launch is expected this month
The S-1 forms are the second step in the process towards making ETH ETFs go live for trading. The first step was the approval of the 19b-4 forms which had already happened on May 23.
On the day that Ethereum ETFs were approved, VanEck handed in an amended version of the S-1 form, and on May 30, BlackRock did the same, saying that its ETF would be seeded with $10 million.
Ethereum ETFs are expected to go live this month, based on previous predictions that have been gaining momentum.
Last month, Bloomberg’s Eric Blachunas suggested that we might see the crypto products going live in the US sometime in June.
Balchunas also said that ETH ETFs could divide the success of Bitcoin ETFs by 5 (when he previously said 10 instead of 5) when it comes to expectations regarding flows, volume, media, and everything else related to the products.
He expects ETH ETFs to grab 20% of what Bitcoin ETFs managed to accomplish.
