The U.S. Securities and Exchange Commission (SEC) has asked issuers of spot Ethereum exchange-traded funds (ETFs) to re-file their S-1 forms by July 8, delaying their launch to mid-July or later. This pushes the expected launch from July 2, with SEC chief Gary Gensler stating last month that spot ETH ETFs would be approved ‘this summer.’
This delay marks a notable milestone, as the SEC had already greenlit the 19b-4 forms in May. Unlike the 19b-4 forms, there are no deadlines for S-1 forms, making the launch timeline dependent on the SEC’s review process.
Standout features include fee waivers: Franklin Templeton and VanEck disclosed sponsor fees of 0.19% and 0.20%, respectively, with VanEck waiving its fee for the first $1.5 billion in assets. Fidelity’s seed capital investor, FMR Capital, contributed $4.7 million, while BlackRock reported $10 million in seed funding.
This strategic move underscores the growing institutional interest in Ethereum and highlights the SEC’s cautious, yet progressive approach to cryptocurrency ETFs.
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