According to reports, the U.S. Securities and Exchange Commission (SEC) has begun discussions with potential Ethereum ETF issuers regarding the S-1 registration statement.
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Preliminary stage of the ETF process
Approval process for Ethereum ETFs
Status of the S-1 form
Decision day for Ethereum ETFs
VanEck’s deadline for the SEC
Announcement time for ETH ETFs
Possible delays caused by the S-1 form
A senior executive from an issuing company revealed that these discussions are still in the early stages. He stated, “It’s basically just getting started.” This suggests that the SEC’s Division of Investment Management may be caught off guard by these developments. Despite the cautious tone, the source remains optimistic about the progress of the Ethereum ETF.
To advance the Ethereum ETF, the SEC needs to approve the 19b-4 form, which was previously completed in a single comprehensive order for Bitcoin ETFs. Afterward, the S-1 registration statement must become effective to begin trading. This process typically requires multiple revisions and resubmissions before final approval is obtained.
Although there has been significant activity regarding the 19b-4 form, only Fidelity recently submitted a revised S-1 form. It is expected that more revisions will occur as discussions unfold. This iterative revision process is crucial to ensuring that the S-1 form complies with all regulatory requirements.
Today is the SEC’s deadline to approve or reject VanEck’s 19b-4 form for the Ethereum ETF. Market analysts believe that the SEC may approve multiple issuers simultaneously, similar to what was done with Bitcoin ETFs, which increases optimism for a decision to be announced today.
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Bloomberg ETF analyst Eric Balchunas speculates on social media platform X that the SEC’s decision may be announced around 4 p.m. Eastern Time. He noted, “For spot Bitcoin, they announced at 3:45 p.m., and some past decisions were slightly later, around 4 p.m. But anything is possible.”
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Even if the SEC approves the 19b-4 form, there may still be delays before the S-1 form is finalized and becomes effective. This means that the actual trading of the Ethereum ETF may not start immediately. According to Balchunas, the preparation time for the S-1 form may involve “last-minute rushing” in the coming days or weeks, depending on the submission of the S-1.
The SEC’s interaction with Ethereum ETF issuers represents an important step towards the potential launch of these financial products. Despite being in the early stages and possible delays, the overall sentiment remains cautiously optimistic. The SEC’s decision on VanEck’s 19b-4 form for the Ethereum ETF will be a significant milestone in this process, and market participants are eagerly awaiting the outcome.
ETF
S-1
SEC
Ethereum
Further reading
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