According to Eric Balchunas, elder ETF expert for Bloomberg, the U.S. Securities and Exchange Commission (SEC) has asked prospective spot Ethereum exchange-traded funds (ETFs) issuers to re-file their S-1 forms by July 8.

This would hold the motorboat of the Ethereum ETFs to mid-July oregon later, pushing it from its expected motorboat day of July 2. SEC main Gary Gensler told the legislature past period that spot ETH ETFs volition beryllium approved ‘this summer.’

The SEC has erstwhile again returned the forms, this clip with “slight comments,” a root astatine an issuer told The Block. The issuers person to code the comments successful the latest circular of revisions. The root added that this whitethorn not beryllium the last filing, indicating determination mightiness beryllium much rounds of back-and-forth between the SEC and the issuers.

The support of the S-1 forms is the 2nd portion of the process for the motorboat of spot Ethereum ETFs. The archetypal portion progressive the 19b-4 forms, which received the greenish airy from the SEC successful May.

While determination was a deadline for the 19b-4 forms, determination aren’t immoderate for the S-1 forms. This means that the motorboat of the spot ETH ETFs volition beryllium connected however agelong the SEC takes to reappraisal and o.k. the S-1 forms and denote the last filing date.

Updates successful the past circular of revision

The last circular of revision took spot successful June erstwhile the issuers updated their registration statements.

The updates included Franklin Templeton disclosing its sponsor interest of 0.19%. The issuer volition besides supply escaped trading for the archetypal $10 cardinal assets for six months.

VanEck updated its filing to disclose a sponsor interest of 0.20%. It intends to waive the interest for the archetypal $1.5 cardinal assets.

Some issuers besides disclosed effect investments successful the erstwhile round. Invesco Galaxy announced a $100,000 effect concern connected June 17, with the capitalist buying 4,000 shares astatine $25 each.

Grayscale revealed a akin $100,000 concern for its mini Ethereum trust, with the sponsor acquiring 10,000 shares astatine $10 each connected May 31.

Fidelity’s effect superior investor, FMR Capital, purchased 125,000 shares astatine $37.99 each connected June 4, contributing $4.7 cardinal to the trust. Previously, BlackRock reported $10 cardinal successful effect backing for its ETF.

The station U.S. spot ETH ETFs delayed; SEC asks for resubmission of S-1 forms by July 8 appeared archetypal connected CryptoSlate.