Bloomberg ETF analyst Eric Balchunas said on May 30 that US spot Ethereum ETFs could launch in June amidst updated BlackRock and Grayscale filings.Balchunas said there is a “legit possibility” that spot Ethereum ETFs will launch by the end of June. He added that an earlier mid-June launch was a “long shot.”Balchunas said the latest date he expects the products to launch would be July 4.Balchunas’ expectations are influenced by the timing of issuers’ S-1 statements. He commented on BlackRock’s May 29 S-1 amendment, which he noted did not include a fee and other vital data — making it a “next to final version.”Grayscale also submitted an S-3 amendment for its fund on May 30, updating the fund to reflect a clear prohibition on staking.Both statements mark one of the final requisite steps before the funds can launch for trading.Balchunas’ expectations regarding a launch date are partly related to the SEC’s supposed political motivations for the funds.Balchunas argued the SEC’s initial approvals have satisfied political needs, writing:” … The political goal of not appearing anti-crypto has already been achieved by simply not rejecting [the ETFs]. No real reason to rush.”Other industry members, such as Ark Invest CEO and CIO Cathie Wood and Coinbase institutional research analyst David Han, have similarly argued that the SEC approved the funds for political reasons.The Block reported that the SEC has asked other applicants to submit draft S-1 filings by May 31, after which the SEC will issue its first round of comments.Each applicant will then submit further amendments in response if needed.As of press time, all ETH issuers have submitted S-1 or S-3 registration statements. However, apart from BlackRock and Grayscale, only VanEck has submitted amendments since the SEC granted initial approvals for exchange rule changes ETFs on May 23.Balchunas’ fellow Bloomberg ETF analyst, James Seyffart, believes the SEC will take weeks or months to approve S-1 statements.Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada’s West Coast.AJ, a passionate journalist since Yemen’s 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting. Must-read crypto news & insights. Delivered daily.Courts dismissed the case without prejudice, leaving Musk an option to refile the case at a later date.The S-1 filing follows the SEC’s approval of NYSE Arca’s proposed rule change on behalf of ProShares.Rob Marrocco believes crypto ETFs beyond Bitcoin and Ethereum are unlikely without first establishing a futures market or changing regulation.Ripple said Standard Custody CEO Jack McDonald would help the firm achieve its USD-backed stablecoin plans.The S-1 filing follows the SEC’s approval of NYSE Arca’s proposed rule change on behalf of ProShares.All spot ETH ETFs have yet to launch despite recent developments.ICBC compared Bitcoin to gold and said Ethereum has established itself as “digital oil” capable of powering myriad applications across the web3 ecosystem.DeFillama data shows the platform’s TVL rose 135% despite the attack.CryptoSlate’s latest market report dives deep into the effects corporate Bitcoin purchases have on the market.Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
