Bloomberg analyst Eric Balchunas has reported a delay in the launch of spot Ethereum ETFs to July 2, following feedback received by issuers on their S-1 forms.
Note: our previous over/under was July 4th so this isn’t major shift but 1) we startted to feel like it would take longer so this is kinda good news and b) we basically decide the over/under on where are most torn 50-50 on where to bet and July 2nd is that date right now.
— Eric Balchunas (@EricBalchunas) June 14, 2024
According to the expert, the comments are “fairly simple, nothing serious.” Therefore, the US Securities and Exchange Commission (SEC) expects updated S-1 forms within a week.
“Note: our previous expected date [for the ETH-ETF launch] was July 4, so this is a minor shift. [Earlier] we started to feel it would take longer, so this is good news,” Balchunas explained.
He was also asked how long it takes to launch Ethereum-ETF trading after the S-1 forms are approved. According to the analyst, this typically happens the next day.
Next day typically
— Eric Balchunas (@EricBalchunas) June 14, 2024
On June 13, SEC Chairman Gary Gensler noted that he expects the bureaucratic procedures for the start of Ethereum-ETF trading to be completed by the end of the summer.
Back in May, the SEC approved 19b-4 applications from issuers of spot exchange-traded funds based on Ethereum. Trading will commence once the agency signs off on the S-1 registration statements.
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