According to CryptoPotato, Bloomberg ETF analyst Eric Balchunas has predicted that the spot Ethereum ETF could launch on July 18. This prediction follows the Securities Exchange Commission (SEC) issuing S-1 amendments, requiring companies to revise their registration statements and submit applications. Balchunas noted that the recent amendments filed by asset managers regarding spot Ethereum ETFs were minimal, with no significant changes in two of the earliest filings.
On Monday, VanEck initiated a series of amendments by submitting an updated registration statement for its spot Ethereum ETF, now renamed The VanEck Ethereum Trust. This move was quickly followed by 21Shares, which also filed a new registration for its spot Ethereum ETFs. Grayscale also joined the trend with two amended filings: one for its substantial $28 billion Grayscale Ethereum Trust and another for a more cost-effective 'mini' version of the trust. Franklin Templeton, Fidelity, and BlackRock also filed amended registration statements for their respective spot Ethereum ETFs. However, none of the filings disclosed the planned fees for the ETFs. Balchunas stated that the SEC had not yet required this information, suggesting that a final round of updates, including fee details, would precede the launch.
VanEck's registration statement saw the removal of specific regulatory language regarding custody, particularly a section that described how Ethereum withdrawals would be managed through the fund's chosen custodian. Other minor changes align with those made by Bitwise the previous week, reflecting the SEC's stance on compliance within the crypto market. These sections highlight SEC Chair Gary Gensler's concern about inadequate protection for investors using crypto exchanges and the potential implications for securities laws. Similarly, 21Shares included disclosure language in its amended registration statement regarding the SEC's regulatory efforts and other minor details. Grayscale's updated filing for its 'mini' Ethereum ETF introduced a new section clarifying that none of the Ethereum in the product will be staked. This refers to the process where Ethereum tokens are delegated to the network in exchange for rewards. Notably, none of the applications before the SEC include plans for Ethereum staking, and some applicants have preemptively removed related language from their proposals.
