SEC signals possible ETH fund launches next week: Sources
The SEC has signaled a timeline to issuers that could lead to a July 23 launch for the ETH funds, people close to the process told Blockworks
kkssr/Shutterstock modified by Blockworks
Fund issuers looking to offer spot ether ETFs in the US have heard from the Securities and Exchange Commission — with sources saying the dialogue points to launches next week.
The securities regulator has asked the companies to submit their final registration statements, or S-1s, for the proposed ETH funds by end of day on Wednesday, two people close to the filing told Blockworks.
These documents would address any final suggested revisions and include details left off some previous S-1s, including fees.
Read more: Does the ETH ETF ‘fee war’ even matter to investors?
Per the SEC’s request, issuers expect to then request “accelerated” effectiveness of those disclosure documents next Monday, the sources said. That would possibly clear the funds to launch on Tuesday, July 23.
One of the people close to the filings said something could always come up to foil that timeline, but noted all signs point to it being “go time” for the ETH funds.
The source’s comments confirm similar details shared Monday on X by Bloomberg Intelligence analysts.
A spokesperson for the SEC did not immediately return a request for comment.
The SEC in May approved the ETH ETF-related proposals filed by exchanges on which the funds would be listed. Despite the landmark ruling, issuers had to iron out additional disclosure details with a separate unit of the regulator — the SEC’s Division of Corporation Finance — before the funds could be cleared to trade.
Industry analysts and executives at the time guessed that process could take between two weeks and several months.
One of the people close to the matter said the dialogue between the SEC and fund issuers has been done at “a reasonable pace.”
The ether ETFs are set to come to market a little more than six months after the SEC allowed the first US spot bitcoin ETFs to start trading in January. Those funds have seen $16 billion of net inflows since then.
Get the news in your inbox. Explore Blockworks newsletters:
- Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam.
- Empire: Start your morning with the top news and analysis to inform your day in crypto.
- Forward Guidance: Reporting and analysis on the growing intersection of crypto and macroeconomics, policy and finance.
- 0xResearch: Alpha directly in your inbox. Market highlights, data, degen trade ideas, governance updates, token performance and more.
- Lightspeed: Built for Solana investors, developers and community members. The latest from one of crypto’s hottest networks.
- The Drop: For crypto collectors and traders, covering apps, games, memes and more.
- Supply Shock: Tracking Bitcoin’s rise from internet plaything worth less than a penny to global phenomenon disrupting money as we know it.
