- The SEC Chair expects the Ethereum spot ETF S-1s to be approved this summer.
- The asset manager omitted the sponsor fee disclosure.
The S-1 registration form for the spot Ethereum ETF was recently modified by financial services behemoth Fidelity Investments. Most of the potential spot Ethereum issuers are anticipated to submit these changes today, as anticipated before.
The revised S-1 filing by Fidelity Investments comes as rumors about the approval of spot Ethereum ETFs to start trading continue to circulate. One big thing was missing from Fidelity’s disclosure, according to Eric Balchunas, a senior ETF analyst at Bloomberg.
Moreover, the asset manager omitted the sponsor fee. Balchuna pointed out that, contrary to popular belief, Bitwise and BlackRock did not disclose fees in their most recent filings.
But Franklin Templeton defied convention by setting its sponsor fee at 19 basis points. According to Balchunas, the delay is likely going to be until the final day of trading since most of these issuers cannot supply the spot ETF without fees forever.
All Eyes on SEC
The SEC Chair, Gary Gensler, expects the Ethereum spot ETF S-1s to be approved this summer. Previous speculation on the S-1 launch window led to this conclusion. Opinions in the community are all over the map after Gary Gensler said that the spot ETH ETF S-1 is set to be approved this summer.
Gensler addressed the lawmakers by bringing up the itinerary with Senator Hagerty. There has been a lot of speculation on social media around the possible listing date of the Ethereum ETF ever since the spot 19b-4 filings were approved on May 23.
Furthermore, the SEC chair emphasized that the issuers, and not the SEC, would have ultimate authority over the listing schedule. The speed with which they act upon feedback, he went on to explain, is crucial.
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