SEC's Ethereum ETF Review Enters New Phase, Delays Expected
The SEC's review of Ethereum ETFs has entered a new phase, with delays and requests for amendments suggesting a cautious approach to approving these products. Initially expected in July, the launch of Ethereum ETFs is now anticipated for August or September.
Several financial institutions, including VanEck and Grayscale, have submitted S-1 forms for Ethereum ETFs to the SEC. However, the SEC has returned these forms with requests for amendments, indicating a negotiation process. Applicants have until July 8 to make the required changes.
The SEC's delay with Ethereum relative to Bitcoin suggests that less established coins may face similar hesitation or rejection for ETF approval. Despite the SEC previously greenlighting the 19b-4 forms for Ethereum ETFs, clearing the path for such products, the review process has proven to be more complex than initially thought.
While the SEC's delays and requests for amendments may indicate a thorough review process, it also signals potential hurdles for Ethereum ETFs and, by extension, other crypto ETFs such as Solana, BNB, XRP, and other large coins. The launch of Ethereum ETFs is now expected in August or September, pending the outcome of the ongoing negotiations.
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