The Possibility of US Spot Ethereum ETF Launch in June

The potential for US spot Ethereum ETFs to launch in June has been a topic of speculation in the investment community. Bloomberg ETF analyst Eric Balchunas has mentioned that there is a possibility for these ETFs to launch by the end of June. While an earlier mid-June launch seems unlikely, Balchunas believes that the latest date for the launch would be July 4.

Balchunas’ expectations are based on the timing of issuers’ S-1 statements. He noted BlackRock’s May 29 S-1 amendment, which lacked important information such as fees, leading him to believe that it is close to the final version. Grayscale also made an S-3 amendment on May 30, clearly stating a prohibition on staking. These amendments are crucial steps before the funds can be launched for trading.

Balchunas also touched on the SEC’s potential political motivations for delaying the launch of these ETFs. He argued that the SEC might have already met its political goals by not rejecting the ETFs, hence there is no rush to approve them. Other industry experts like Cathie Wood and David Han have expressed similar views regarding the SEC’s approval process for crypto-related products.

The SEC has asked other applicants to submit draft S-1 filings by May 31, signaling that a first round of comments will be issued soon. Following this, applicants will make further amendments based on the feedback received. As of now, all ETH issuers have submitted their registration statements, with only VanEck making amendments since the initial approvals on May 23. Balchunas’ colleague James Seyffart believes that the SEC might take weeks or even months to approve S-1 statements.

The potential launch of US spot Ethereum ETFs in June remains speculative. While there are indications of progress with issuers’ statements and the SEC’s review process, the exact timeline for approval and launch is still uncertain. Investors and market participants will closely monitor any developments in this space, as the introduction of these ETFs could have significant implications for the cryptocurrency market and traditional finance sectors alike.