Spot Ethereum ETF Debut Postponed After SEC Feedback

Key Points and Figures

• Eric Balchunas and James Seyffart, Bloomberg ETF analysts, report SEC comments delaying the launch.
• Nate Geraci, president of ETF Store, suggests minor revisions to S-1 forms might lead to SEC clearance in 14–21 days.
• The SEC approved 19b-4 filings from eight ETF bidders on May 23.
• Gary Gensler, SEC Chair, confirmed progress on the approval process on June 26.
• Major issuers include BlackRock, Fidelity, 21Shares, Grayscale, Franklin Templeton, VanEck, iShares, and Invesco.
• Potential delays in listing until September depend on applicants’ response times.

YEREVAN (CoinChapter.com) — The launch of U.S.-based spot Ether exchange-traded funds (ETFs) has been postponed. The U.S. Securities and Exchange Commission (SEC) delayed the process by commenting on the S-1 forms submitted by the ETF issuers.

Bloomberg ETF analysts Eric Balchunas and James Seyffart reported that the SEC’s additional comments have pushed the expected launch to mid-to-late July. Issuers need to resubmit their S-1 forms by July 8.

Minor S-1 Revisions Suggest Spot Ethereum ETFs Could Launch This Summer

Eric Balchunas noted that the SEC’s comments on the S-1 forms are significant in the delay. Nate Geraci, president of ETF Store, said the latest round of S-1 revisions were minor. He stated that the SEC could clear issuers for trading within 14–21 days. The SEC indicated that the spot Ethereum ETFs might still launch this summer.

Earlier in June, Balchunas predicted an early July launch for the ETFs based on the lack of significant commentary from SEC staff on the applicants’ S-1 filings. Recent comments have changed this timeline.

SEC’s Two-Part Approval Process Keeps Spot Ethereum ETF Launch Date Uncertain

The approval of the S-1 forms is the second step in the two-part process required for the ETFs to go live. The first step involved the approval of the issuers’ 19b-4 forms in May. The SEC approved 19b-4 filings from eight ETF bidders on May 23.

Unlike the 19b-4 forms, the S-1 forms do not have a specific deadline. This leaves issuers dependent on the SEC’s review and approval timeline. The delay in the S-1 form approvals means that the exact launch date remains uncertain.

SEC Advances Spot Ethereum ETFs, VanEck Preps for July Listing

On June 26, SEC Chair Gary Gensler confirmed that the approval process for spot Ether ETFs is progressing smoothly. The SEC has approved a rule change allowing major issuers, including BlackRock, Fidelity, 21Shares, Grayscale, Franklin Templeton, VanEck, iShares, and Invesco, to participate in the process.

Some issuers, like VanEck, have filed 8-A forms in preparation for listing on exchanges by July 8.

Gensler noted that listing spot Ether ETFs on stock exchanges might take months and could potentially be delayed until September. He emphasized that the timeline depends on how quickly the applicants respond to the SEC’s requests.