The spot Ethereum ETFs that experts like Bloomberg ETF analysts Eric Balchunas and James Seyffart expected to launch next week have been further delayed by the U.S. Securities and Exchange Commission (SEC). The SEC issued a few comments on the S-1 form submitted by spot Ethereum ETF issuers, with refiling expected in the coming weeks.
The U.S. SEC in the latest comments has asked the spot Ethereum ETF issuers to submit the S-1 forms by July 8, according to people familiar with the matter. This means the spot Ethereum ETFs launch is delayed to mid-July or July-end.
SEC Chair Gary Gensler recently confirmed that the approval process for spot Ethereum ETF is going smoothly after issuers including BlackRock, Fidelity, 21Shares, Grayscale, Franklin Templeton, VanEck, and Invesco. The Ether ETF issuers such as VanEck have also filed Form 8-A in preparation for listing on exchanges by July 8.
The delay puts Ethereum holders in limbo. ETFstore President Nate Geraci earlier noted that the last round of S-1 revisions was quite “light” and the regulator will likely clear issuers for trading within the next 14-21 days. While the exact timeline is unclear, the SEC hinted at a potential launch this summer.
Also Read: ETH/BTC Pair Eyes Major Breakout With Ethereum ETF on Horizon, What’s Next?
Market participants have criticized the move by the SEC as Ethereum and the broader crypto market are already trading under selloff pressure. The odds of Ethereum ETF launch next week ignited hopes of altseason as ETH/BTC price was finally moving above the 365 simple moving average.
ETH price rose 2% in the past 24 hours, with the price currently trading at $3,068. The 24-hour low and high are $2,826 and $3,090, respectively. Furthermore, the trading volume has increased further by 57% in the last 24 hours, indicating a rise in interest among traders.
Also Read: Ripple Vs SEC – Judge Torres Doctrine Stands, XRP Secondary Sales Are Not Securities
Bitcoin extended declines on Tuesday, following the United States military response against Iran. The geopolitical…
Strategy recently raised its capital once again with MSTR stock ATM sales while also buying…
The U.S. Federal Reserve's first FOMC meeting under new Fed Chair Kevin Warsh is coming…
AI firm Anthropic has released the public version of its Mythos AI model, 'Claude Fable.'…
Crypto firm Paradigm has sent a comment letter to the U.S. Federal Deposit Insurance Corporation…
Kalshi prediction market applied for Hyperliquid (HYPE) perpetual futures, expanding the list beyond altcoins such…