According to The Block, the U.S. Securities and Exchange Commission (SEC) has requested Ether spot ETF issuers to submit their S-1 draft filings by Friday, as reported by two sources familiar with the matter. Afterward, the SEC will provide its initial comments for further revisions.
On the same day that the 19b-4 proposal related to the Ether spot ETF was approved last week, VanEck promptly submitted a revised version of its S-1 form. BlackRock also submitted its revised S-1 document this Thursday, detailing that their ETF will receive $10 million in seed funding.
However, one source stated that the details of the seed investment are relatively straightforward for the issuers, which means that other aspects of the form may require more time to process. They mentioned that it is expected that the S-1 form will need at least two more rounds of draft submissions before it is ready.
Currently, investors still need to wait for the approval of the S-1 document before trading the Ether spot ETF. According to a previous report by Zombit, Bloomberg ETF analyst Eric Balchunas stated that BlackRock’s submission of the revised S-1 is a “good sign” and that we may soon see other revisions, followed by a round of minor adjustments from the staff. Balchunas also believes that a listing by the end of June is a reasonable possibility, although he still expects the listing date to be July 4th.
