ETFs
Balchunas Predicts ETH ETF Launch in Late June as Grayscale Updates S-3 Statement
Bloomberg ETF Analyst Eric Balchunas said on May 30 US Spot Ethereum ETFs Could Launch in June Amid Update black rock And Shades of grey deposits.
Balchunas said there is a “legitimate possibility” that Ethereum spot ETFs could launch by the end of June. He added that an earlier launch in mid-June was a “distant project.”
Balchunas said the latest date he expects the products to launch would be July 4.
Balchunas’ expectations are influenced by the timing of issuers’ S-1 filings. He commented on BlackRock’s S-1 of May 29 amendmentwhich, he noted, did not include fees or other vital data, making it a “close to final version.”
Grayscale also submitted an S-3 amendment for its fund on May 30, updating the fund to reflect a clear ban on staking.
The two declarations mark one of the final steps required before funds can be traded.
Politics is at stake
Balchunas’ expectations for a launch date are partly related to the SEC’s alleged political motivations for the funds.
Balchunas argued that the SEC’s initial approvals satisfied policy needs, writing:
»…The political goal of not appearing anti-crypto has already been achieved by simply not rejecting [the ETFs]. No real reason to rush.
Other industry members, such as Ark Invest CEO and CIO Cathie Bois And Coinbase institutional research analyst David Hanalso argued that the SEC approved the funds for political reasons.
No more incoming S-1 statements
The Block reported that the SEC has asked other applicants to submit draft S-1 filings by May 31, after which the SEC will issue its first round of comments.
Each applicant will then submit further edits in response if necessary.
As of press time, all ETH issuers have submitted S-1 or S-3 registration statements. However, aside from BlackRock and Grayscale, only VanEck has submitted changes since the SEC granted its first approvals for changes to ETF trading rules on May 23.
Balchunas’ fellow analyst at Bloomberg ETF, James Seyffartestimates that the SEC will take weeks or months to approve S-1 filings.
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Author 
Mike Dalton
Journalist at CryptoSlate
Before switching to cryptography writing in 2018, Mike studied library and information science. He currently resides on the west coast of Canada.
Editor Editor 
Assad Jafri
Editor and journalist at CryptoSlate
AJ, a passionate journalist since the 2011 Arab Spring in Yemen, has honed his skills around the world for over a decade. Specializing in financial journalism, he now focuses on crypto reporting.