Who is the issuer of the Ethereum ETF? When will it be launched?

It is well known that the founder of Ethereum was created by Vitalik Buterin in 2015 to provide the ability to create smart contracts and decentralized applications (DApp). The most popular one in the current market is the Ethereum ETF. Especially on May 23, the U.S. SEC approved proposals from multiple exchanges, paving the way for Ethereum ETF trading. However, final approval still requires the issuer of the Ethereum ETF to start trading after its S-1 registration statement becomes effective. So who is the issuer of the Ethereum ETF? Many people are still unclear. It is understood that the issuers of Ethereum ETFs are mainly financial institutions or asset management companies such as VanEck, BlackRock, Fidelity, and Grayscale. The editor below will tell you in detail.

Who is the issuer of Ethereum ETF?

According to data, the issuers of Ethereum ETFs are mainly financial institutions or asset management companies such as VanEck, BlackRock, Fidelity, Grayscale, FranklinTempleton, ARK 21Shares, InvescoGalaxy, Bitwise and Hashdex. They will be responsible for the management of the fund. , operations and marketing.

In April this year, Ethereum infrastructure company ConsenSys received the SEC’s Wells Notice, which focused on Metamask’s trading and staking services. Financial lawyer Scott Johnsson pointed out that the SEC did not confirm Ethereum’s non-security status in its approval order, saying it “completely avoids” the issue. However, the SEC and some of its commissioners are expected to make a formal statement in due course.

According to the latest news, on May 23, the SEC officially approved the 19b-4 applications of VanEck, BlackRock, Fidelity, Grayscale, FranklinTempleton, ARK 21Shares, InvescoGalaxy and Bitwise, allowing the issuance of spot Ethereum ETFs. Many ETF issuers explicitly eliminated pledges in the final amendments.

Hashdex was the only ETF issuer that day that did not receive regulatory approval. However, the eight approved ETF issuers need to wait until the SEC signs off on their S-1 registration statements before they can launch. By approving an Ethereum spot ETF, the SEC appears to be giving some level of recognition to Ethereum’s legitimacy, a decision that could have far-reaching consequences for other cryptocurrency projects.

When will the Ethereum ETF be listed?

According to the latest news from GalaxyDigital, the Ethereum spot ETF is expected to pass a key regulatory approval at the end of May. If successfully approved, it may be listed on the exchange as soon as July or August. Before an Ethereum spot ETF can trade, regulators must approve two types of documents: Form 19b-4, or proposed rule change forms, and S-1 registration statements.

According to GalaxyDigital news, there may be several months between the approval and listing of the Ethereum spot ETF, which is in sharp contrast to the faster listing speed of the Bitcoin spot ETF. As early as January 4 this year, the U.S. Securities and Exchange Commission (SEC) approved several 19b-4 forms related to Bitcoin spot ETFs. The Bitcoin spot ETFs were issued a few days later with a very short interval.

GalaxyDigital pointed out that the long time lag between approval and issuance is because the risks of Ethereum spot ETFs are "significantly" higher than that of Bitcoin spot ETFs, which may prolong the regulatory approval time for these funds. The process of approving and listing these ETFs may also take longer due to the variety of decentralized applications (dapps) built on the Ethereum network. The researchers said these decentralized applications “add to the array of information that may need to be disclosed,” which could make it more difficult for an Ethereum spot ETF to obtain final regulatory approval to begin trading.

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