News: U.S. SEC Commences S-1 Application Discussion with Ethereum ETF Issuer

According to reports, the US Securities and Exchange Commission (SEC) has begun discussions with potential Ethereum ETF issuers regarding the S-1 registration statement.

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Preliminary Stage of ETF Process
Approval Process for Ethereum ETF
Status of S-1 Form
Decision Day for Ethereum ETF
SEC’s VanEck Ethereum ETF Deadline
Announcement Time for ETH ETF
Possible Delays Caused by S-1 Form

A senior executive from an issuing company revealed that these discussions are still in the early stages. He stated, “Basically, it has just begun.” This suggests that the SEC’s Division of Investment Management may have been caught off guard by these developments. Despite the cautious tone, the source remains optimistic about the progress of the Ethereum ETF.

To advance the Ethereum ETF, the SEC needs to approve the 19b-4 form, which was previously accomplished in a single consolidated command for Bitcoin ETFs. Subsequently, the S-1 registration statement must become effective before trading can commence. This process typically requires multiple revisions and resubmissions before final approval is obtained.

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Although there has been significant activity regarding the 19b-4 form, currently only Fidelity has recently submitted a revised S-1 form. With discussions underway, more revisions are expected. This iterative revision process is crucial to ensuring that the S-1 form complies with all regulatory requirements.

Today is the SEC’s deadline to approve or reject the 19b-4 form for the VanEck Ethereum ETF. Market analysts believe that the SEC may approve multiple issuers simultaneously, as was done with Bitcoin ETFs, which enhances the optimism surrounding today’s potential announcement.

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Bloomberg ETF analyst Eric Balchunas speculated on the social media platform X that the SEC’s decision may be announced around 4 p.m. Eastern Time. He noted, “For spot Bitcoin, they announced at 3:45 p.m., and some past decisions have been a little later than 4 p.m. But anything is possible.”

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Even if the SEC approves the 19b-4 form, there may still be delays before the S-1 form is finalized and becomes effective. This means that the actual trading of the Ethereum ETF may not immediately commence. According to Balchunas, the preparation time for the S-1 form may involve “last-minute scrambling” in the coming days or weeks, depending on the submission of the S-1.

The contact between the SEC and Ethereum ETF issuers represents a significant step towards the potential launch of these financial products. Despite being in the early stages and possibly experiencing delays, the overall sentiment remains cautiously optimistic. The SEC’s decision on the VanEck Ethereum ETF’s 19b-4 form will be an important milestone in this process, and market participants eagerly await the outcome.

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