The entire cryptocurrency market is eagerly awaiting the approval of the first Ethereum cash ETFs. According to the latest information, the first returns for S-1 forms will appear in the next few days.

Approval is imminent

According to news reports, potential issuers of ETH Spot ETFs received comments from the SEC last week regarding their S-1 forms. These companies have until this Friday to provide feedback to the SEC.

Obviously, the precise timetable for final approval is uncertain, but the SEC has stated that as early as this summer, the final decision will be pronounced.

Although the 19b-4 forms were approved in May, the S-1 forms need to be approved before trading in Ethereum Spot ETFs can begin.

The deadline for this process is not strict, and the forms are being revised until they are ready.

The latest SEC comments were rather positive, according to one issuer’s source, and the issuer expects approval from the Securities and Exchange Commission. According to information from another issuer, the SEC’s comments are rather “light”.

“I think applications will be submitted fairly quickly this week, and then we’ll see how many more rounds of financing are needed.”

Is a July 2 launch possible ?

Eric Balcunas, ETF specialist, tweeted on June 13 that he had also heard reports of progress on S-1 forms.

This is obviously speculation, but the launch date for Ether Spot ETFs is set for July 2.

“We’re moving up our launch date for spot Ethereum ETFs to July 2. We heard that the SEC sent out their comments to issuers on the S-1 forms today, and they’re pretty light, nothing major, they’re just asking for a response in a week. There’s a good chance they’ll work on declaring them effective the following week and pulling them from their pile before the vacation weekend. Anything’s possible, but that’s our best guess at the moment.”

On May 31, the first Forms S-1 were submitted by issuers, following the approval of Forms 19b-4. Initially scheduled to receive comments the following week, they took almost 2 weeks to arrive.

The SEC didn’t predict when the S-1 forms would be approved, and insists that an answer will be given during the summer.
President Gary Gensler said the timetable will depend largely “on how quickly issuers respond”.

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Source : X