Ethereum
Ethereum Spot ETF Issuers Asked by SEC to Submit Updated S-1 Filings by Friday
The U.S. Securities and Exchange Commission (SEC) has reportedly asked spot issuers of Ethereum ETFs to submit updated S-1 filings by Friday, according to sources familiar with the matter. However, the Ether spot ETF may not be available for trading for weeks after S-1 updates.
SEC Requests Updated S-1 Filing From Spot Ethererum ETF Issuers
Spot Ethereum ETF issuers are asked to submit their proposed S-1 filing by Friday, according to sources familiar with the SEC’s communication to issuers. The SEC approved spot Ether ETFs last week after filing Forms 19b-4 following a last-minute change in SEC interest in favor of spot Ether ETFs, which experts say occurred after political pressure.
The updated S-1 filing will follow comments from the US SEC, and further changes to the S-1 are expected for weeks before spot Ether ETFs are listed for trading. According to experts, the SEC may require Ether ETF spot issuers to make two additional rounds of updates before making a final decision on listing.
Nate Geraci
, the host of the ETF Prime podcast, said: “There will still be additional amendments as a result of this. But the SEC is clearly moving on here pretty quickly.
black rock has filed an updated S-1 for iShares Ethereum Trust, signaling strong progress toward the launch of a spot Ethereum ETF. Whereas Hashdex withdrew its Ethereum spot ETF proposal for unreported reasons. VanEck, Fidelity, Franklin, Grayscale, Bitwise, ARK Invest & 21Shares, Invesco & Galaxy and BlackRock’s iShares Ethereum Trust proceed with the Ether spot ETF.
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ETH Market Reaction
Bloomberg Analyst Eric Balchunas suggested earlier that the market reaction to Ethereum ETFs would not be as enthusiastic as the reaction to the detection of Bitcoin ETFs.
ETH Price jumped 1% in response to news of the SEC requesting an updated S-1 filing. The price rose above $3,800, with a 24-hour low and high of $3,702 and $3,823, respectively. Additionally, trading volume decreased by 20% in the last 24 hours, indicating that the purchases came from whales or large investors.
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