Bloomberg analyst Eric Balchunas predicted on X (formerly Twitter) that July 18 would be the “best guess” for the spot Ethereum ETF launch. This prediction follows the Securities Exchange Commission (SEC) issuing S-1 amendments, requiring companies to amend their registration statements and submit their applications.
Companies Update ETH ETF Filings
In the latest amendments filed by asset managers regarding spot Ethereum ETFs, Balchunas noted minimal changes, describing them as “nothing to see here” in two early filings. The recent S-1 and S-3 amendments allow asset managers to issue ETFs, differing from the 19b-4 filings permitting exchanges to list and trade these funds upon launch.
On Monday, VanEck initiated the amendments by submitting an updated registration statement for its spot Ethereum ETF, renaming it “The VanEck Ethereum Trust.” This was followed by 21Shares and Grayscale, with the latter filing amendments for both its $28 billion Grayscale Ethereum Trust and a more cost-effective “mini” version. Franklin Templeton, Fidelity, and BlackRock also filed updated registration statements for their spot Ethereum ETFs.
SEC and Regulatory Compliance
Despite these updates, none of the filings disclosed planned fees for the ETFs. Balchunas suggested a final round of updates, including fee details, would precede the launch, after which “it’s go time.” VanEck’s statement removed specific regulatory language regarding custody and Ethereum withdrawals.
Other Amendments and Staking Details
Other minor changes reflect the SEC’s compliance stance, emphasizing SEC Chair Gary Gensler’s concern about inadequate investor protection on crypto exchanges. 21Shares included similar disclosure language. Grayscale’s updated filing for its “mini” Ethereum ETF clarified that none of the Ethereum in the product would be staked, a move seen across all applications before the SEC.
