- VanEck and 21Shares updated S-1 forms for spot Ethereum ETFs, with trading expected to start around July 15 if the SEC approves.
- Major firms like Fidelity, BlackRock, and Grayscale have also amended S-1 registrations for spot Ethereum ETFs ahead of the launch.
- The SEC’s approval for Spot Ethereum ETFs on May 23 led to a surge in filings, with a market launch anticipated in mid-July.
VanEck and 21Shares have recently amended their S-1 registration statements with the United States Securities and Exchange Commission (SEC) to facilitate the launch of spot Ethereum exchange-traded funds (ETFs).
These amendments, filed on July 8, indicate the firms’ progress toward obtaining final approval from the SEC. Other major asset management companies such as Fidelity, BlackRock, Franklin Templeton, and Grayscale also filed similar amendments later in the day.
Amendments Focus on Custody Changes
The amended S-1 filings primarily involve minor changes to custody arrangements. This step is crucial in the final stages of approval required by the SEC. The filings did not specify an exact launch date but mentioned that trading would begin “as soon as practicable after the effective date” of the registration.
Expert Nate Geraci, co-founder of The ETF Institute, predicts that the highly anticipated Spot Ethereum ETFs will launch around July 15. This prediction aligns with the timeline discussed by Bloomberg analyst Erich Balchunas, who noted that the filing process is progressing smoothly.
SEC Approval Process
The SEC approved the creation of Spot Ethereum ETFs on May 23, but the approval did not conclude the process. Asset management firms continued discussions with the SEC regarding the launch date, leading to the recent flurry of amended filings. Bitwise, another firm seeking to list a spot Ether ETF, filed its own amended registration on July 3.
The companies that filed for the spot Ethereum ETFs on Monday are Fidelity, VanEck, Franklin Templeton, 21Shares, Grayscale, and BlackRock.
Moving Toward Market Launch
The series of filings marks are a step toward the introduction of spot Ethereum ETFs in the United States. This development follows the earlier approval by the SEC, bringing the market closer to trading these new financial products.
The coordinated effort by multiple asset management firms reflects the growing interest and demand for cryptocurrency-based investment options. If the SEC grants final approval, these ETFs will offer investors a new way to gain exposure to Ethereum, potentially increasing the cryptocurrency’s adoption and market activity.
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