Newly-Approved Spot Ether ETFs Could Start Trading by Mid-June: Analyst
Newly-approved spot Ethereum exchange-traded funds (ETFs) could potentially hit the market by mid-June.
Following the successful 19b-4 filings for spot Ether ETFs, which allow them to be listed on exchanges, the next step is to obtain approved S-1 registration statements before trading can commence.
Bloomberg ETF analyst James Seyffart predicts that the S-1 approvals could be granted in a “couple of weeks,” although he acknowledges that the process may take longer, typically spanning up to five months.
However, fellow Bloomberg ETF analyst Eric Balchunas believes that a mid-June launch is certainly possible.
Balchunas expects a single round of comments to the S-1 amendments, similar to the feedback provided for spot Bitcoin ETF applicants, which could facilitate a quicker approval timeline.
The imp part is over. Now just logistics. My guess is there’s only one round of comments on the S-1s. And during btc one round took two weeks ish. So I this mid June is certainly poss. Just a guess tho. We will see.
— Eric Balchunas (@EricBalchunas) May 23, 2024
VanEck, one of the applicants, wasted no time and filed its amended S-1 shortly after receiving approval for the 19b-4 filings. Other applicants are anticipated to follow suit in the near future.
However, Gabriel Shapiro, general counsel at Delphi Labs, points out that the SEC’s approval was granted by its Division of Trading and Markets unit under delegated authority. He suggests that one of the five SEC Commissioners could challenge the decision within the next 10 days.
Nevertheless, digital asset lawyer Joe Carlasare believes that such a challenge is unlikely, stating that passing it through the trading and markets division indicates no opposition from the Commissioners.
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