Bloomberg ETF analyst Eric Balchunas said: May 30th A US spot Ethereum ETF could launch in June as BlackRock and Grayscale filings are updated.
Balchunas said there was a “legitimate possibility” that a spot Ethereum ETF would launch by the end of June. He added that the launch in early mid-June was “long-range.”
Balchunas said the latest he expects the product to launch is July 4.
Balchunas’ expectations are influenced by the timing of the issuer’s S-1 statement. He noted that BlackRock’s May 29 S-1 amendment did not include fees and other important data, making it “next to the final version.”
Grayscale also filed an S-3 amendment for the fund on May 30, updating the fund to reflect a clear prohibition on staking.
Both statements represent one of the final essential steps required before funds can begin trading.
politics is going on
Balchunas’ expectations regarding the release date are partly tied to the SEC’s political motivations for the funds.
Balchunas argued that the SEC’s initial approval satisfied a political need and wrote:
” … The political goal of no anti-cryptocurrencies has already been achieved by simply not rejecting them. “There is no reason to rush.”
Other industry members, such as Ark Invest CEO and CIO Cathie Wood and Coinbase institutional research analyst David Han, have similarly claimed that the SEC approved the funds for political reasons.
More S-1 statements are received.
The Block reported that the SEC has asked other applicants to submit draft S-1s by May 31, after which the SEC will issue its first opinion.
Each applicant will then submit further amendments to this, if necessary.
As of press time, all ETH issuers have filed their S-1 or S-3 registration statements. However, since the SEC gave its initial approval for exchange rule-changing ETFs on May 23, only VanEck, aside from BlackRock and Grayscale, has submitted an amendment.
Balchunas’ fellow Bloomberg ETF analyst James Seyffart believes it will take weeks or months for the SEC to approve the S-1 statement.