Bloomberg ETF Analyst Eric Balchunas Say on May 30 Updated reports suggest that US-based Ethereum ETFs may launch as early as June. BlackRock You can also find out more about the following: Grayscale filings.
Balchunas stated that there are a “legit possibility” Spot Ethereum ETFs are expected to launch at the end of this month. The launch date was moved up to mid-June. “long shot.”
Balchunas stated that the latest date for the launch of the product is July 4.
Balchunas expects that the timing of S-1s from issuers will influence his expectations. He made a comment on BlackRock’s S-1 of May 29, amendment, which he noted did not include a fee and other vital data — making it a “next to final version.”
Grayscale, on the 30th of May, submitted an S-3 amendement for its fund. The amendment updated the fund’s rules to clearly prohibit speculating.
These two statements are the last step before the fund can be launched for trading.
Political games are played
Balchunas expectations about a launch are partially related to SEC’s presumptive political motivations regarding the funds.
Balchunas wrote that the SEC initial approvals had satisfied political needs.
” … The political goal of not appearing anti-crypto has already been achieved by simply not rejecting [the ETFs]. No real reason to rush.”
Members of the industry, including Ark Invest CIO and CEO Cathie Wood You can also find out more about the following: Coinbase Institutional research analyst David HanThey have also argued the SEC approved funds because of political reasons.
S-1 Statements to be released Soon
The Block reported on the SEC’s request to other applicants that they submit draft S-1 applications by May 31. The SEC then will provide its first round comments.
If necessary, each applicant may submit additional amendments.
All ETH-related issuers had submitted S-1 and S-3 registration documents as of the time this article was published. VanEck, BlackRock, and Grayscale are the only issuers to submit amendments after SEC initial approvals. May 23.
Balchunas is joined by another Bloomberg ETF analyst. James SeyffartThe SEC is expected to take several weeks or even months before it approves S-1 statements.
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Source: cryptoslate.com