The U.S. Securities and Exchange Commission (SEC) has finally gotten back to issuers concerning the final approvals for spot ether exchange-traded funds (ETFs). Preliminary approval has reportedly been granted for at least three of the eight proposals set to launch next Tuesday. Issuers of these spot ether ETFs have been working with the SEC to ensure their registration statements become effective, allowing the ethereum ETFs to commence trading.
US Spot Ether ETFs to Launch on July 23 Pending Final SEC Approval, Analyst Says
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Spot Ether ETFs Close to Launching
The U.S. Securities and Exchange Commission (SEC) has given preliminary approval for at least three of the eight asset managers aiming to launch spot ether exchange-traded funds (ETFs) next Tuesday, according to Reuters, citing three industry sources. Applicants must submit final S-1 (registration statement) documents by the end of this week.
Bloomberg’s senior ETF analyst Eric Balchunas shared on social media platform X Monday:
Hearing SEC finally gotten back to issuers today, asking them to return final S-1s on Wed (incl fees) and then request effectiveness on Monday after close for a Tuesday 7/23 launch. This is provided no unforeseeable last min issues of course!
Balchunas humorously added, “Ironic and kinda funny 7/23 is right in the middle of the biggest bitcoin conf of the year.” This ether ETF approval process follows the January launch of nine U.S. spot bitcoin ETFs, a milestone for cryptocurrency’s acceptance into mainstream finance. Blackrock, Vaneck, and Franklin Templeton are among the asset managers expected to receive SEC approval by next Monday, sources told Reuters.
The SEC approved eight spot ether ETF 19b-4 filings on May 23. The approval allows the listing and trading of Grayscale Ethereum Trust, Bitwise Ethereum ETF, Blackrock’s Ishares Ethereum Trust, Vaneck Ethereum Trust, 21shares Ethereum ETF, Invesco Galaxy Ethereum ETF, Fidelity Ethereum Fund, and Franklin Ethereum ETF.
During a testimony before the U.S. Senate Appropriations Subcommittee on Financial Services on June 13, SEC Chair Gary Gensler mentioned that spot ether ETFs could launch this summer. He confirmed that the review process for these ETFs is progressing smoothly and that asset managers are currently navigating the registration process.
Do you think U.S. spot ether ETFs will launch on July 23? Let us know in the comments section below.
