The SEC Issues Comments on Spot Ethereum ETFs
The U.S. Securities and Exchange Commission (SEC) has provided feedback to issuers of spot Ethereum ETFs regarding their S-1 forms. These comments are essential for the progress of these ETFs, which aim to give investors exposure to Ethereum through a regulated product.
With a fast-approaching deadline set for this Friday, issuers are under pressure to address the SEC’s comments promptly.
The Response Deadline
The SEC has mandated a Friday deadline for issuers to reply to their comments. This deadline is crucial as it demonstrates the SEC’s dedication to advancing the review process. Failure to respond on time could result in delays in getting the ETFs approved, potentially impacting their launch timelines.
SEC Final Approval By July 2
According to Bloomberg Senior ETF Analyst Eric Balchunas, the SEC gave relatively light comments on the S-1 filings and requested responses by Friday. This indicates a strong possibility that the SEC may approve these ETFs by July 2.
SEC Chair Gary Gensler has not specified when the S-1 forms will be approved, only mentioning sometime this summer. Gensler suggested that the timing would primarily rely on how quickly issuers address the agency’s feedback.
While the impact of the Ethereum ETFs remains uncertain, some analysts forecast that they could garner up to 20% of the flows that Bitcoin ETFs have experienced.
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