Prospective spot Ethereum 
ETH -0.94% ETF issuers are still waiting on the SEC to provide comments on their S-1 filings after they submitted first drafts on May 31, according to two sources.
The issuers had been anticipating the SEC would provide comments on these drafts on June 7, according to one source based on conversations with the agency. Yet, at least two issuers have not received anything yet. One source said they now anticipate comments to come back this week.
This comes after SEC Chair Gary Gensler said on CNBC that the approvals of the S-1 forms would “take some time.”
It’s unclear exactly how long the process will take. One source previously told The Block that they expect the S-1 forms to go through at least two more rounds of draft filings before they are ready.
The S-1 forms are the second step in a two-step process toward making the spot Ethereum ETFs go live for trading. The first step was the approval of the 19b-4 forms, which happened on May 23.
The draft filings also reveal a few details. BlackRock is seeding its ETF with $10 million, while Franklin Templeton plans to start with a 0.19% fee.
When the spot Ethereum ETFs go live, a key question will be whether they can try to replicate the success of the spot Bitcoin ETFs. Bitfinex Head of Derivatives Jag Kooner estimates that they will bring in around 10-20% of the flows that have been going into spot Bitcoin ETFs.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
