SEC Delays Ethereum ETF Approval, Requests Revisions
The U.S. Securities and Exchange Commission (SEC) has requested revisions on the S-1 forms for prospective spot Ethereum ETFs, delaying their anticipated launch. The SEC returned the forms with minor comments and asked issuers to refile by July 8, indicating that at least one more round of filings will be required before the ETFs can begin trading. This has postponed the potential launch to mid or late July, contradicting earlier predictions of an early July release.
SEC Chair Gary Gensler has stated that approvals could occur "sometime over the course of this summer," but no specific timeline has been provided. The approval process includes major issuers such as BlackRock, Fidelity, 21Shares, Grayscale, Franklin Templeton, VanEck, iShares, and Invesco. Market participants have expressed criticism over the delay, as the broader crypto market, including ETH, is experiencing sell-off pressure. Despite the progress, the timeline for final approval remains uncertain.
