Ethereum spot ETF further delayed! SEC returns it, not expected to be listed until after July 8th.
According to a report by The Block, the U.S. Securities and Exchange Commission (SEC) has returned the S-1 form to the potential Ethereum ETF issuer and requested them to resubmit by July 8th. Bloomberg ETF analyst Eric Balchunas has also pushed back the listing date for the Ethereum spot ETF to after July 8th.
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The U.S. Securities and Exchange Commission (SEC) officially approved the 19b-4 form for eight Ethereum spot ETFs on 5/23. However, for these products to start trading, the S-1 registration statement submitted by the issuers needs to become effective. According to Bloomberg ETF analyst estimates, it will take at least a few more weeks. At that time, the optimistic prediction was that these Ethereum spot ETFs might be listed by July 2nd, just before the U.S. Independence Day holiday.
VanEck leads the fee war, Ethereum spot ETF expected to be listed on July 2nd
SEC Chairman Gary Gensler also stated at last week's Bloomberg Investment Summit that everything is progressing smoothly, but the exact approval timing is uncertain.
Gary Gensler: Progress on Ethereum spot ETF approval is "progressing smoothly"
However, the S-1 is not bound by any specific deadline and entirely depends on the speed of SEC review and approval. Sources mentioned that at least one more round of review is still needed for it to take effect. The sources noted:
There are still some additional details regarding the Ethereum spot ETF, and it's always a winding road before the ETF can start trading.
Bloomberg ETF analyst Eric Balchunas has also pushed back the listing date to after July 8. Considering that many issuers have not yet disclosed their fees and tickers, it seems that there will need to be a concerted effort to work overtime to get listed after the holiday!
