Eric Balchunas is a senior ETF analyst at Bloomberg. According to him, the U.S. Securities and Exchange Commission has requested that prospective issuers of spot Ethereum ETFs (exchange-traded fund) resubmit their S-1 form by July 8th.
The launch of Ethereum ETFs would be delayed to July 2 or even later. SEC chief Gary Gensler told the senate last month that spot ETH ETFs will be approved ‘this summer.’
Once again, SEC returns the forms. “slight comments,” The aforementioned source The Block was told by an issuer. Issuers must address comments made in the most recent round of revisions. The issuers must address the comments in the latest round of revisions. source added that this may not be the final filing, indicating there might be more rounds of back-and-forth between the SEC and the issuers.
Second part in the process of launching spot Ethereum ETFs is approval of S-1 forms. First, the SEC approved the 19b-4 form in May.
The S-1 form deadline is not the same as the one for 19b-4. It follows that the SEC’s decision to approve and review the S-1 forms, and then announce the final filing dates will determine the date the ETFs are launched.
It is important to note that the word “you” means “people”. last round of revision In June, the update of registration statements by issuers took place.
Franklin Templeton disclosed its Sponsor Fee of 0.19%. The first $10 Billion in assets will be free for trading by the issuer for six month.
VanEck disclosed a sponsoring fee of 0.20% in its latest filing. It plans to waive the sponsor fee on the first $1.5 Billion in assets.
Some issuers disclosed their seed investment in the prior round. Invesco galaxy announced $100,000 in seed investments on June 17. The investor purchased 4,000 stocks at $25 each.
Grayscale announced a $100,000 investment in its Mini Ethereum Trust, where the sponsor purchased 10,000 shares for $10 each.
FMR Capital is Fidelity’s investor in seed capital. On June 4th, it purchased 125,000 of the shares for $37.99 per share, contributing $4.7m to this trust. BlackRock had previously reported seed funding of $10 million for its ETF.
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Source: cryptoslate.com