Jimmy Ragosa, a product manager at Consensys, predicts that the SEC is on the verge of approving the S-1 documents for Ethereum spot-based ETFs in the coming days. This forecast was made in response to Bitwise’s revised Ethereum ETF S-1 document, submitted on June 18. Ragosa noted that the updated filing did not disclose the fee structure and initial investment details.
In the revised S-1 document, Bitwise included updates on risk factors, legal and regulatory statements, contact information, and distribution plans. Ragosa believes that if these updates are the only concerns raised by the SEC, approval could be imminent.
The SEC recently provided feedback to potential issuers of Ethereum ETFs, with Bloomberg ETF analyst Eric Balchunas describing the comments as ‘light’. The SEC has instructed issuers to submit amended S-1 filings this week to move the process forward.
With the SEC’s approval of the S-1 documents being the final hurdle for the launch of Ethereum ETFs on U.S. exchanges, Balchunas predicts that approval could come by July 2. Initially, he had set July 4 as the potential launch date, but with the limited comments from the SEC, he revised his timeline to an earlier date.
It remains to be seen if the SEC will request further updates on the S-1 filing. Meanwhile, the SEC has concluded its investigation into Consensys’ ETH sales without recommending any enforcement action. This indicates that ETH’s regulatory status will not impede the potential launch of Ethereum spot-based ETFs.
Please note that this article is for informational purposes only and should not be construed as financial advice. The views expressed are the author’s own and do not necessarily reflect those of The Crypto Basic. Readers are advised to conduct their own research before making any investment decisions. The Crypto Basic holds no responsibility for any financial losses incurred.