According to a report by The Block , sources revealed that the U.S. Securities and Exchange Commission (SEC) requires issuers of Ethereum spot ETFs to submit modified S-1 forms by Friday. Those that have submitted revised documents include VanEck, BlackRock and Grayscale. Bloomberg ETF analysts estimate that the Ethereum spot ETF has a chance to be launched in early July.
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ToggleThe news states: SEC requires issuers to submit S-1 by Friday
After the Form 19b-4 was approved on May 23, the only remaining step was for the Form S-1 to become effective before the transaction could begin. However, since the approval was a last-minute change of direction by the SEC, unlike the Bitcoin spot ETF, which after many discussions and modifications, the S-1 form was approved a few hours after the approval of the 19b-4 form, and then directly the next day. Listed.
But progress is being made. According to people familiar with the matter, the SEC requires issuers to submit S-1 amendments by Friday. Thereafter, the SEC will provide its first round of comments.
Upon approval of the 19b-4, VanEck immediately submitted a revised version of the Form S-1. BlackRock followed suit on May 29 and has injected $10 million in seed funding.
Grayscale also followed up and submitted modified files.
Grayscale also submitted on May 30. Grayscale’s application is to convert its Ethereum Trust (ETHE) into an Ethereum spot ETF. Launched in March 2019, the Grayscale Ethereum Trust is the world's largest ETH investment vehicle, with current asset size of US$11 billion, and its discount range has been reduced from 25% to 1.31% with the approval of the ETF.
According to estimates by Bloomberg ETF analyst Eric Balchunas, the Ethereum spot ETF has a chance to be launched at the end of June, and he set the deadline as July 4.
