According to The Block, the U.S. Securities and Exchange Commission (SEC) has returned the S-1 form to potential Ethereum ETF issuers and requested them to resubmit by July 8. Bloomberg ETF analyst Eric Balchunas has also pushed back the listing date for the Ethereum spot ETF to after July 8.
The SEC formally approved the 19b-4 forms for eight Ethereum spot ETFs on 5/23. However, for these products to begin trading, the S-1 registration statements submitted by the issuers need to be effective. According to estimates by Bloomberg ETF analyst, it will take at least a few more weeks. The optimistic prediction at the time was that these Ethereum spot ETFs may be approved for listing before the U.S. Independence Day holiday on July 2.
SEC Chairman Gary Gensler also stated at last week’s Bloomberg Investment Summit that everything is progressing smoothly, but the exact approval timing is unknown.
However, the S-1 is not bound by any specific deadline and completely depends on the speed of SEC review and approval. Sources said that at least one more round of review is needed for them to become effective. It was pointed out that 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. Given that the expenses and tickers for many issuers have not yet been disclosed, it seems that there will need to be a concerted effort to rush the listing after the Independence Day holiday!