In a recent development, the U.S. Securities and Exchange Commission (SEC) has returned the S-1 forms to potential issuers of Ethereum ETFs, marking another step in the process before these funds can potentially go live. According to a source familiar with one of the issuers, the documents were sent back with specific comments that the issuers must address before resubmitting, expected by July 8.
“It’s always a winding path,” commented the source, highlighting the complexity of the approval process. The return of the S-1 forms does not signify the end of the process. Before Ethereum ETFs can begin trading, at least one more round of filings and reviews will be required.
The journey towards ETF activation began with the approval of the issuers’ Form 19b-4, a step that was completed in May ahead of a critical deadline. The S-1 forms, however, are not bound by specific timelines, and the speed of the process now depends on how swiftly the SEC can review and return the documents.
Contrary to earlier expectations, Ethereum ETFs will not be operational as of July 4, as previously speculated. The exact timing for these funds to commence operations remains uncertain and hinges on when the SEC sets a deadline for the submission of final registrations.
SEC Chairman Gary Gensler had previously mentioned that approvals for Ethereum ETFs could happen “sometime this summer,” without specifying an exact timeline.
Disclaimer: The views expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in cryptocurrencies involves a risk of financial loss.
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