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Predictions on the Start of Ethereum ETF Trading Shared by Bloomberg Analyst! Details Inside
Predictions on the Start of Ethereum ETF Trading Shared by Bloomberg Analyst! Details Inside
Even though the SEC greenlit 19b-4 forms for ETFs in May, the approval of S-1 forms is crucial for the commencement of trading.
Writer:
Utku Yanık
19.06.2024 – 14:32
Update:
7 seconds ago
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Entities gearing up to launch spot Ethereum exchange-traded funds (ETFs) are diligently working to address the feedback provided by the U.S. Securities and Exchange Commission (SEC) on their S-1 forms, with a deadline looming this Friday.
Efforts Underway to Address SEC Feedback on Ethereum ETFs by Issuers
According to sources, these entities have received comments from the SEC recently and are now in the process of revising and resubmitting their forms to comply with regulatory standards.
Despite the SEC’s approval of 19b-4 forms for these ETFs back in May, the finalization of S-1 forms is a prerequisite before trading can kick off.
This iterative process, without a strict timeline, entails multiple rounds of revisions based on SEC feedback. The latest comments from the SEC are reportedly viewed as rational and moderate.
“I anticipate that filings will be submitted fairly swiftly this week, and then we will wait to see the extent of further revisions required,” shared a source from one of the issuers.
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Eric Balchunas, a Senior ETF Analyst at Bloomberg, indicated on social media that the targeted launch date for these products is July 2, emphasizing that this is an approximate estimation.
Initial drafts of the S-1 forms were furnished by issuers on May 31, with expectations of receiving feedback the subsequent week.
However, the feedback arrived after a delay of two weeks. The SEC refrained from specifying a timeline for the approval of S-1 forms, simply hinting that it would occur during the summer months.
SEC Chairman Gary Gensler emphasized that the pace of approval largely hinges on how promptly issuers respond to the feedback provided by the agency.
While the impact of Ethereum ETFs remains uncertain, some analysts foresee that they could attract up to 20% of the capital inflows observed by Bitcoin ETFs.
*Please note that this does not constitute investment advice.
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