ETFs
“One more round before approval”
As reported by The Block On June 29, the U.S. Securities and Exchange Commission (SEC) returned S-1 forms to filers Ethereum ETF issuers with comments, requiring at least one additional round of filings before approval.
In particular, the SEC asked issuers to respond to comments and refile their forms by July 8. This development means that the approval process will take longer than initially anticipated. Therefore, the predicted possibility of Ethereum (ETH) Putting ETFs online by July 4 is no longer relevant.
According to a source for The Block at one of the issuers, the returned forms contained light comments. However, this will not be the final deposit, as at least one more spin will be required before the AND F can start to negotiate.
Timing uncertainty and prior expectations
Although SEC Chairman Gary Gensler previously mentioned that Ethereum ETF approvals could occur “sometime this summer,” no specific timeline was provided. This lack of clarity has left issuers uncertain about when their ETFs will go live.
Earlier reports had suggested a potential launch date as early as July 4. However, this latest development has dispelled those expectations. Issuers will only have a clearer picture of the situation once the SEC sets a deadline for final filings.
The two-step process towards ETF approval
The S-1 forms are part of a two-step process for getting ETFs up and running. The first step, which involved approving Forms 19b-4, was completed in May. However, unlike Forms 19b-4, the S-1 forms are not tied to any specific deadline.
This means that approval time largely depends on how quickly the SEC can review and respond to submitted forms. The process was described by one source as a “winding path”, highlighting the complexity and unpredictability of the approval process.
Looking Ahead: What’s Next for Ethereum ETFs?
As the SEC continues to review S-1 forms, issuers and investors alike are eagerly awaiting the next steps. The additional round of filings will undoubtedly push back the launch date of Ethereum ETFs.
Despite the delay, ongoing dialogue between the SEC and ETF issuers suggests progress toward eventual approval. However, the exact timeline remains uncertain, leaving the crypto and investment communities waiting for further developments.