# NEW

SEC Inches Closer to Approving Spot Ethereum ETFs

ETH ETF

KEYTAKEAWAYS

  • July 18 projected as likely launch date for spot Ethereum ETFs
  • Asset managers submit amended filings with minimal changes, awaiting SEC approval

CONTENT

Bloomberg ETF analyst Eric Balchunas predicts July 18 launch as asset managers file amended registration statements, signaling potential green light for Ethereum-based exchange-traded funds.


 

The cryptocurrency investment landscape is on the brink of a significant milestone as the Securities and Exchange Commission (SEC) appears to be moving closer to approving spot Ethereum Exchange-Traded Funds (ETFs). Bloomberg ETF analyst Eric Balchunas has pinpointed July 18 as the “best guess” for the launch date, following a series of amended filings by major asset managers.

 

 

The SEC’s recent request for S-1 amendments has prompted companies to revise their registration statements and resubmit applications. This development has sparked optimism within the crypto community, as it suggests the regulatory body is inching towards a decision on Ethereum-based ETFs.

 

Balchunas noted that the latest round of amendments contained minimal changes, describing two of the earliest filings as having “nothing to see here.” This observation implies that the asset managers are fine-tuning their proposals to meet the SEC’s requirements without substantial alterations to their original plans.

 

The filing process involves both S-1 and S-3 amendments, which pertain to the asset managers’ ability to issue ETFs. These are distinct from the 19b-4 filings that allow exchanges to list and trade the funds upon launch.

 

VanEck led the charge on Monday by submitting an updated registration statement for its spot Ethereum ETF, now renamed The VanEck Ethereum Trust. 21Shares swiftly followed suit with its own registration for spot Ethereum ETFs. Grayscale, a major player in the crypto investment space, filed amendments for its $28 billion Grayscale Ethereum Trust and a more cost-effective “mini” version.

 

Other industry giants, including Franklin Templeton, Fidelity, and BlackRock, also submitted amended registration statements for their respective spot Ethereum ETFs. Notably, none of the filings on Monday disclosed the planned fees for the ETFs, with Balchunas suggesting that the SEC has yet to mandate this information.

 

The amendments brought some minor changes across the board. VanEck’s filing saw the removal of specific regulatory language regarding custody, particularly concerning Ethereum withdrawals. Other changes aligned with those made by Bitwise the previous week, reflecting the SEC’s stance on compliance within the crypto market.

 

Grayscale’s updated filing for its “mini” Ethereum ETF introduced a new section clarifying that none of the Ethereum in the product will be staked. This addition addresses concerns about the practice of delegating Ethereum tokens to the network in exchange for rewards.

 

As the crypto industry awaits the SEC’s decision, the potential approval of spot Ethereum ETFs represents a significant step towards mainstream adoption of cryptocurrency investments. The launch of these ETFs could provide investors with a regulated and accessible means of gaining exposure to Ethereum’s price movements without directly owning the cryptocurrency.

 

With July 18 marked as a potential landmark date, all eyes are on the SEC as it navigates the complex terrain of cryptocurrency regulation and investment products.

 

 

▶ Buy Ethereum at Binance

Enjoy up to 20% off on trading fees! Sign up Now!

 

Binance_AD


Looking for the latest scoop and cool insights from CoinRank? Hit up our Twitter and stay in the loop with all our fresh stories!


DISCLAIMER

CoinRank is not a certified investment, legal, or tax advisor, nor is it a broker or dealer. All content, including opinions and analyses, is based on independent research and experiences of our team, intended for educational purposes only. It should not be considered as solicitation or recommendation for any investment decisions. We encourage you to conduct your own research prior to investing.

 

We strive for accuracy in our content, but occasional errors may occur. Importantly, our information should not be seen as licensed financial advice or a substitute for consultation with certified professionals. CoinRank does not endorse specific financial products or strategies.


WRITER’S INTRO

CoinRank Exclusive brings together primary sources from various fields to provide readers with the most timely and in-depth analysis and coverage. Whether it’s blockchain, cryptocurrency, finance, or technology industries, readers can access the most exclusive and comprehensive knowledge.


NEWSLETTER

SUBSCRIBE

CoinRank