2 key days are coming for Ethereum ETFs

The companies issuing the ether ETFs (ETH) would be close to delivering the corrections to S-1 forms filed with the United States Securities and Exchange Commission (SEC).

This could be a key week for the future of these instruments linked to the native token of the Ethereum network, since Friday, June 21, 2024 is the deadline set by the US entity to receive these documents, according to statements from two sources to the press.

The SEC had already made initial reviews of these forms last week. and the companies issuing the ether ETFs have been working since then to resolve the mentions that the SEC made in them.

Thus, ether spot fund managers appear to be close to receiving a new response and what could be another step towards the implementation of ether ETFs in the United States.

Although the procedure to finalize the ether ETFs may be extended and there is no specific date on which the SEC must give a final verdict, Bloomberg analyst Eric Balchunas anticipated his optimism in this regard. Balchunas assured that ether ETFs would be launched on July 2.

In turn, Bloomberg’s ETF specialist gave an indication of what could happen this week. He pointed out that those comments by the SEC towards the issuing companies were “quite light and not important.”

As reported by CriptoNoticias, in this documentation called S-1, the companies that manage this type of financial products must clarify different items related to their risk profile, the state of their finances, the action plan they will offer, the custody of assetsamong many others.

These S-1 reports represent a relevant document in terms of security and protection for investors. That is why the SEC analyzes them carefully.

On May 23, 2024, the issuing companies received SEC approval of 19b-4 filings. This is only half of the process. On the 31st of the same month, the S-1 documents were delivered for the first time.

Currently there eight ether ETFs listed by the SEC from the following companies: VanEck, Fidelity, Franklin, Grayscale, Bitwise, ARK Invest & 21Shares, Invesco & Galaxy and BlackRock. The chart below contains the names of ETFs awaiting approval by the SEC.

One of them is the Bitwise Ethereum ETF, from the American company Bitwise. The company submitted this S-1 form with corrections to the SEC yesterday, June 18, and expects a positive response. If this happens, you could start marketing your instrument linked to the ether cryptocurrency.

Bitwise expressed the interest of another company, Pantera Capital Management LP, in investing $100 million in its ether ETF. At the same time, they also stated that a subsidiary of the Bitwise company itself will begin investments in shares of this instrument for 2.5 million dollars.