On July 21, eight applicants for Ethereum spot ETFs, including Bitwise, Fidelity, VanEck, Franklin, 21Shares, Grayscale, BlackRock, and Invesco, have all submitted updated S-1 filings. Bloomberg ETF analyst Eric Balchunas reiterated last night that July 2 will be the issuance date for Ethereum spot ETFs.
Regarding when the Ethereum spot ETF will be approved for listing by the U.S. Securities and Exchange Commission (SEC), the market is closely monitoring the progress of the S-1 registration statement. On June 13, SEC Chairman Gary Gensler stated that the SEC is expected to approve the S-1 registration application for Ethereum spot ETFs “at some point this summer.”
On June 15, Bloomberg ETF analyst Eric Balchunas revealed that he had heard that the SEC provided comments on the S-1 filings to the issuers. These comments were brief and did not raise major issues, with a request for response within a week. At that time, he stated that the applicants for Ethereum spot ETFs had submitted updated S-1 filings to the SEC.
Last night (July 21), Eric Balchunas gradually announced the list of applicants who submitted updated S-1 filings to the SEC on Twitter. All eight applicants for Ethereum spot ETFs have submitted, including Bitwise, Fidelity, VanEck, Franklin, 21Shares, Grayscale, BlackRock, and Invesco. Franklin set its fee at 0.19% last month, VanEck announced a fee of 0.2%, and BlackRock disclosed a seed investment of $10 million.
Eric Balchunas mentioned earlier that the SEC must now review these filings and inform the issuers of any final changes needed before final approval. He reiterated that July 2 will be the issuance date for Ethereum spot ETFs.
Recently, there have been many positive news about Ethereum. On July 19, Consensys, the parent company of the MetaMask wallet, announced that the SEC’s enforcement division notified them that it is ending the investigation into Ethereum 2.0, indicating that the SEC will not charge ETH sales as securities transactions.
Although some communities believe that this means the SEC recognizes Ethereum as a commodity rather than a security, former SEC litigation advisor Teresa Goody Guillén stated in an email that the SEC’s termination of the investigation into Ethereum does not mean that the commission has definitively concluded that Ether is not a security. She stated that a former SEC lawyer said the SEC decides to drop an investigation either because it doesn’t believe Ether is a security or because the agency cannot afford the litigation risk.