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Author: Tim Copeland Source: theblock Translation: Shan Oppa, Bitchain Vision
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Earlier today, eight Ethereum ETFs were approved in a comprehensive order.
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However, it can take weeks or even months for the S-1 registration statement to be approved and the product will be available for market trading.
Eight spot Ethereum ETFs were approved in a comprehensive order earlier today.However, it may take some time before they can be traded online.
The SEC approved Form 19b-4 of the Ethereum ETF, which includes products from BlackRock, Fidelity and Grayscale.But to start trading, the S-1 registration statement for these products needs to take effect.
When the Bitcoin ETF was approved, the S-1 form was ready before 19b-4 was approved.This allows the S-1 form to take effect very quickly and start trading the next day.
The difference between Ethereum ETFs is that the SEC did not start contacting issuers until earlier this week.Experts speculate that this last-minute change may be due to political decisions.Now, while the issuer is able to submit Form 19b-4 quickly before today’s VanEck ETF deadline, there is little communication about Form S-1.
According to a source close to the process, there is still a lot of work to be done on Form S-1.They said it may take several weeks to resolve all the issues, but it ultimately depends on how quickly the SEC responds.Therefore, exchanges and issuers have not yet begun to discuss the launch of these products.
This is consistent with the estimates of industry experts.”I don’t know how fast the fast track is, but it may be very nervous in the next few days, or even weeks,” Bloomberg ETF analyst Eric Balchunas said in an interview with The Block before Form 19b-4 was approved.——It depends on the progress of the S-1 form.”
Galaxy Digital predicts that spot Ethereum ETFs will be listed on the exchange in July or August.The risk level of spot Ethereum ETFs is “significantly” higher than that of spot Bitcoin ETFs, which may extend regulators’ decision-making time on these funds, Galaxy Digital said in the report.
After today’s order, the SEC may begin providing feedback to issuers about their S-1 forms and working with them to make them ready.Trading can only begin after this step is completed and the exchange is ready.
So while Ethereum ETFs have been approved, they may not start trading in a few weeks—the length of time depends on the urgency of the SEC.
