As a seasoned crypto investor with a keen interest in Ethereum and ETFs, I find this news incredibly exciting. The SEC’s unexpected approval of rule changes for eight Ethereum ETFs is a significant step forward for the crypto community. However, as we all know, the process isn’t over yet. The S-1 registration forms need to be approved, which is where the real work comes in.
During a Senate Appropriations Subcommittee on Financial Services hearing held on a Thursday, SEC Chair Gary Gensler shared his anticipation with Senator Bill Hagerty (R-TN) that the agency will authorize S-1 forms for Ethereum spot ETFs “at some point this summer.”
I was pleasantly surprised to receive news from U.Today that the Securities and Exchange Commission (SEC) had approved the listing and trading of no less than eight Ethereum Exchange-Traded Funds (ETFs). This decision came about following the SEC’s acceptance of their respective rule change applications, which were filed under Form 19b-4.
As an analyst, I’d put it this way: The SEC review process for Ethereum ETFs is a two-step affair. Prior to these funds becoming publicly available, they must first overcome another obstacle: the approval of their S-1 registration forms. These documents provide comprehensive details about the products and are currently under review by the Securities and Exchange Commission.
In late May, the agency asked for revised S-1 forms from potential issuers. I’m looking forward to observing any modifications in the upcoming group of amended S-1s. It seems there isn’t much work left to be completed.
James Seyffart, a renowned Bloomberg analyst, expresses optimism that Ethereum ETFs will become available this summer. He clarified in a recent X social media post that while July was merely an assumption, it was certain that Ethereum ETFs would debut at some point during the summer season.
According to U.Today’s report, JPMorgan forecasts that Ethereum Exchange-Traded Funds (ETFs) will see smaller investments than Bitcoin ETFs.
During this period, Bitcoin ETFs experienced an inflow of approximately $100 million. Notably, Fidelity’s Wise Origin Bitcoin Fund (FBTC) was responsible for the largest portion of these investments.
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2024-06-13 19:58