The possibility of US spot Ethereum ETFs launching in June has been a major topic of discussion, with Bloomberg ETF analyst Eric Balchunas suggesting that it could happen soon. Balchunas mentioned that while a mid-June launch might be a long shot, there is a legitimate possibility that these ETFs will be available to investors by the end of June.
Balchunas’ expectations regarding the launch date are closely tied to the timing of issuers’ S-1 statements. He highlighted BlackRock’s S-1 amendment on May 29, noting the absence of crucial data such as fees, making it one of the final versions before launch. Additionally, Grayscale updated its fund with a clear prohibition on staking through an S-3 amendment on May 30.
There is speculation regarding the SEC’s political motivations for the approval of these ETFs. Balchunas argued that the regulatory body’s initial approvals were driven by political factors, such as not wanting to appear anti-crypto. This may explain the cautious approach in finalizing the launch of these products.
Other industry members, including Ark Invest CEO Cathie Wood and Coinbase analyst David Han, have echoed similar sentiments about the SEC’s approval process. It has been suggested that the SEC’s focus on political optics may be influencing the timeline for the launch of these ETFs.
As of now, all Ethereum issuers have submitted their S-1 or S-3 registration statements, with only a few, including BlackRock and Grayscale, providing updated versions. The SEC has requested additional applicants to submit draft filings by May 31, signaling a meticulous review process before issuing comments and amendments.
The launch of US spot Ethereum ETFs has generated significant interest within the industry, with experts closely monitoring the regulatory process. While initial approvals have been granted, the final launch date remains uncertain, with factors such as political considerations playing a role in the decision-making process. As the market eagerly awaits the arrival of these ETFs, it is essential to consider the various complexities and implications associated with their introduction.
