4 months ago
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Spot Ethereum ETFs are closer to market debut.
The Securities and Exchange Commission (SEC) has requested spot Ethereum exchange-traded fund (ETF) issuers to submit their draft S-1 forms by Friday. The announcement came one day after BlackRock filed an updated S-1 form with the SEC.
Two sources familiar with the matter told The Block that the SEC would review and comment on the filings after the draft submission. One suggested that the S-1 documents would undergo at least two more rounds of drafting.
According to Bloomberg ETF analyst James Seyffart, the review process could take several weeks or even months if progress is slow.
On May 23, the SEC approved the 19b-4 forms associated with eight spot Ethereum ETFs. However, before trading can begin, the S-1 forms must be effective.
Following the SEC approval, issuers have rapidly prepared their S-1 filings. VanEck submitted an amended S-1 form on the same day the ETFs were approved, with BlackRock following shortly after.
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