Ether ETF Countdown: SEC Delays Ignite Discussion, But Launch Still Imminent
Hopes for the imminent launch of a spot Ether ETF remain unwavering, despite the recent delays by the Securities and Exchange Commission (SEC). Nate Geraci, President of ETFStore, expressed his confidence in an upcoming launch, even as issuers filed amended S-1 forms with the SEC on Monday.
In a recent tweet, Geraci speculated on how quickly the SEC would review the S-1 amendments and highlighted his main focus on the associated fees. He suggested that issuers could be gearing up for a launch in the next week or two.
In late June, the SEC sent the S-1 forms back to issuers, requesting modifications. While the revised forms were expected to be resubmitted by July 8, there are indications that further filings may be necessary.
These S-1 forms represent a crucial step towards the final approval of the spot Ether ETF. The SEC had already approved the 19b-4 forms in May 2024. As the S-1 forms do not have a specific deadline, issuers are eagerly awaiting the SEC’s decision. Geraci pondered how swiftly the SEC would process the amended forms.
Geraci also shared on another platform that the spot Ether ETF could possibly launch by July 15, and he would be surprised if it didn’t happen within the next two weeks.
Since the surprising approval of the 19b-4 filing, the price of Ether has experienced a 20% decline. Analysts and traders are closely monitoring ETH’s price movements while anticipating the approval of the S-1 forms. At the time of writing, ETH was being traded at $2,888, marking a 5.3% decrease within the day.
Initially, there were speculations that the SEC would approve the filings by July 4, with SEC Chair Gary Gensler hinting at a smooth approval process. Some analysts anticipated the ETF to launch in the first week of July. However, as the SEC’s decision remains pending, the crypto community eagerly awaits a spot Ether ETF, hoping it will transition from speculation to reality. With Ether’s recent price dip, the question on everyone’s mind is whether the SEC’s approval will serve as a catalyst for a market rebound or if the crypto winter will persist.
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