The SEC Delays Ethereum ETF Approval Process🛑
The U.S. Securities and Exchange Commission (SEC) has sent back S-1 forms to potential Ethereum ETF issuers for further review, delaying the approval process. Issuers are required to address comments and resubmit forms by July 8, extending the timeline for approval.
Timeline Uncertainty and Previous Expectations⏳
SEC Chair Gary Gensler had hinted at Ethereum ETF approvals happening in the summer, but without a specific timeline. This uncertainty has dashed hopes of ETFs going live by July 4 as previously expected. Issuers are now waiting for the SEC to provide a final deadline for filings.
The Two-Step Process Towards ETF Approval🔄
The approval process for ETFs involves two steps – the 19b-4 forms approval completed in May and the current review of S-1 forms. Unlike the 19b-4 forms, the S-1 forms lack a strict deadline, making the approval timeline unpredictable. The complex process is described as a “winding path” by industry insiders.
Looking Ahead: What’s Next for Ethereum ETFs?🔮
As the SEC reviews S-1 forms, both issuers and investors are waiting for the next steps. The additional round of filings will delay the launch of Ethereum ETFs. Despite the setback, ongoing discussions between the SEC and issuers signal progress towards approval, although the exact timeline remains uncertain.
Hot Take: Stay Patient and Informed🔥
While the SEC’s delay may be frustrating, it’s important to stay patient and informed. Keep an eye on developments in the Ethereum ETF approval process, as progress is being made towards eventual approval. Stay tuned for further updates in the coming weeks.
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