Ethereum ETF Applicants Update S-1 Forms, Await SEC Approval

Key Points:

• Six Ethereum ETF applicants, including BlackRock and VanEck, updated S-1 forms after SEC feedback, aiming for a summer launch.
• VanEck, BlackRock, and Franklin Templeton disclosed seed investments and fee waivers in their filings.
• Analysts predict a July launch but remain uncertain due to unclear SEC plans.

The campaign for spot Ethereum ETFs is gaining momentum, with six applicants updating their S-1 registration forms to meet final conditions for trading.

Ethereum ETF Applicants Update S-1 Forms Amid SEC Feedback

The development comes as analysts predict a launch this summer, despite a recent delay by the Securities and Exchange Commission (SEC).

At the end of June, the SEC returned applications with minor suggestions, stalling the anticipated July launch. VanEck was the first to file its amended S-1 with the financial regulator this week in search of a potential final approval date.

Last week, Bitwise filed its S-1 amendment, introducing a six-month waiver of up to $500 million. Franklin Templeton included details of a seed investment, revealing that Franklin Resources Inc. purchased 4,000 shares at $25 each, totaling $100,000.

VanEck reported gaining 2,929 ETH from the seed creation basket sale proceeds, while BlackRock purchased 3,031 ETH. Both VanEck and BlackRock had previously reported initial seed capital investments of $100,000 and $10 million, respectively.

VanEck also announced a fee waiver for the first $1.5 billion over one year, aligning with Bitwise’s six-month, $500 million waiver and Franklin Templeton’s six-month, $10 billion waiver in its prior filings. No new sponsor fees were added by the Ethereum ETF applicants.

Analysts Predict July Launch for Ethereum ETFs

Now, spot Ethereum ETF applicants—BlackRock, Fidelity, Grayscale, 21Shares, Franklin Templeton, and VanEck—submitted their amendments. The SEC had approved 19b-4 filings for eight potential issuers in May, but the final S-1 application has been delayed, with SEC Chair Gary Gensler hinting at a summer decision.

Bloomberg ETF analyst Eric Balchunas has been closely monitoring the situation. On July 8, he speculated that the fund might launch on July 18 but expressed uncertainty due to unclear SEC plans. Nate Geraci, president of the ETF Store, remains hopeful for a July launch, questioned how quickly the SEC will respond to the amendments.