According to reports cited by “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. Following this, the SEC will provide its initial comments for further revision.
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 filing this Thursday, detailing that their ETF will receive $10 million in seed funding.
However, a source indicated that the details of the seed investment are relatively straightforward for issuers, which means that other aspects of the filing may require more time to process. They anticipate at least two more rounds of draft submissions before the S-1 form is ready.
Investors currently have to wait for the approval of the S-1 filing before trading the Ether spot ETF. According to previous reports by Zombit, Bloomberg ETF analyst Eric Balchunas stated that BlackRock’s submission of the revised S-1 is a “good sign,” and other revisions may soon follow, potentially accompanied by another round of minor adjustments from 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.