The U.S. Securities and Exchange Commission (SEC) has begun discussions with prospective issuers of Ethereum exchange-traded funds (ETFs) regarding their S-1 registration statements, according to a senior official at an issuing firm.
SEC Working on S-1 Forms with Ethereum ETF Issuers
“Basically, it's just getting started,” the official said, noting that the SEC's Investment Management Division seemed a bit surprised by the shift in focus on Ethereum ETFs.
Despite the initial nature of these discussions, the source expressed cautious optimism about progress towards the Ethereum ETF, emphasizing that they do not expect the process to be halted.
For Ethereum ETFs to be approved, the SEC must first approve 19b-4 forms, which outline proposed changes to exchange rules required for trading ETFs.
This was done in a unified scheme for Bitcoin ETFs. Following this, S-1 registration statements providing detailed information about the ETF must go into effect before trading can begin.
Issuers typically go through a cycle of submitting, amending, and re-filing these forms before the final versions are approved by the SEC.
Today is the last day for the SEC to make a decision regarding Ethereum ETFs. An approval is expected today. As developments occur, we will share them with you at the last minute.
*This is not investment advice.