The Securities and Exchange Commission (SEC) has directed the asset manager to file a final registration statement for a spot Ethereum ETF by Wednesday, with the product scheduled to launch on July 23, two sources familiar with the SEC proceedings confirmed. Decryption.
Spot Ethereum ETF Approval Process Extremely slow Regulatory authorities Sudden Approval The Spot Ethereum ETF was listed in May, allowing investors to invest in Ethereum through traditional brokerage accounts, and excitement has been building steadily ever since.
The SEC’s recent communications with asset managers were first reported on Monday by Bloomberg ETF analyst Eric Balchunas. I have written On Twitter (aka X), we argued that the final registration statement should also include each fund’s respective management fees.
“Hearing [the] SEC [has] I finally contacted the publisher today. […] “We will validate the request after the store closes on Monday and the items will be released on Tuesday, July 23,” he said. I have writtenThe schedule was “unexpected and last minute[ute] problem.”
The details were confirmed Decryption Two separate sources said one of them confirmed they had received similar communications from authorities.
While the SEC approved a lead application for a spot Ethereum ETF in May, the regulator has yet to approve individual S-1 filings from eight asset managers, including BlackRock, Fidelity and Grayscale. Previously, SEC Chairman Gary Gensler said the approval process is dependent on ETF hopefuls providing full disclosure to investors, but that “there is still room for improvement.”going well.”
The Spot Bitcoin ETF, approved in January, has seen inflows of about $15.8 billion so far this year, but the launch of the Spot Ethereum ETF could be a relatively big moment for the second-largest cryptocurrency by market cap. According to K33 Research, the Spot Ethereum ETF: $4 billion inflow Within the first five months.
Still, as the approval process progresses, Ethereum’s price has fallen from a peak of around $4,000 in May. The asset’s price has risen 15% in the past week to around $3,400, but It plummeted Earlier this month, it was at $2,900.
Additional Reports Liz NapolitanoEdited by Ryan Ozawa.
