- According to two sources who spoke with The Block, the SEC instructed potential spot Ethereum ETF issuers to submit their updated S-1 paperwork by Friday.
- Before the S-1 forms become operative and trade can start, it can take a few weeks.
With all eyes on the S-1 forms, the march to authorize the spot Ethereum ETFs for trading is well under way.
The S-1 forms only need to become operative in order for trading to start once the 19b-4 forms were approved on May 23.
Nevertheless, the S-1 forms were not prepared beforehand because the approvals were the consequence of an abrupt shift in the SEC’s direction. But things are starting to change now.
Two people with knowledge of the matter say that the SEC requested that issuers submit their draft S-1 filings by this Friday. Following this, the SEC will submit its initial set of comments, which could result in more changes.
Without delay, VanEck submitted a revised version of its S-1 form on the day the ETFs were approved. BlackRock announced that the ETF would get a $10 million seed on May 30.
While the specifics of the seed investments are relatively simple for an issuer to report, other parts of the documents may require more time to complete. They stated that until the S-1 forms are ready, they anticipate going through at least two additional rounds of draft filings.
Analysts predict that if everything proceeds slowly, it will take a few weeks, or even months, to turn around the S-1s. However, other traders contend that the delay might be advantageous.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
