Ethereum spot ETF applicant submits S-1 filing update to SEC! Former SEC lawyer raises concerns about selling securities

This site (120btC.coM): As for when the Ethereum spot ETF will be approved for listing by the U.S. Securities and Exchange Commission (SEC), the market is paying close attention to the progress of the S-1 registration statement document. On June 13, SEC Chairman Gary Gensler said that the SEC is expected to approve the S-1 registration application for the Ethereum spot ETF "sometime this summer."

Bloomberg ETF analyst Eric Balchunas revealed on the 15th that he has heard that the SEC has provided comments on S-1 documents to issuers. These comments are brief and have no major problems, and they are required to respond within a week. At the time, he said there was a good chance the SEC would formally approve the ETFs next week and resolve the issue before the holiday weekend. We have moved up the launch date of the Ethereum Spot ETF to July 2nd.

Ethereum spot ETF applicants submitted updated S-1 documents to the SEC

Last night (21st), Eric Balchunas successively announced the list of applicants who submitted updated S-1 documents to the SEC on X. Eight Ethereum spot ETF applicants have been submitted, including: Bitwise, Fidelity, VanEck, Franklin, 21Shares, Grayscale, BlackRock and Invesco. Among them, Franklin last month set its fee at 0.19%, VanEck announced its fee at 0.2%, and BlackRock disclosed a $10 million seed investment.

Eric Balchunas said earlier that the SEC must now review the documents and let issuers know of any final changes that need to be made before final approval. He once again reiterated that July 2 will be the launch date of the Ethereum spot ETF.

Former SEC lawyer: The end of the SEC investigation into Ethereum does not mean that ETH is not a security

There has been a lot of news that is good for Ethereum recently. On the 19th, Consensys, the parent company of Little Fox Wallet Metamask, announced that the SEC Enforcement Department informed them that it was concluding its investigation into Ethereum 2.0, and stated that this meant that the SEC would not charge that ETH sales were securities transactions.

Although some communities believe that this is equivalent to the SEC recognizing that Ethereum is a commodity, not a security. But Teresa Goody Guillén, former SEC litigation counsel, said in an email that the SEC’s conclusion of its investigation into Ethereum does not mean that the commission has definitely concluded that Ethereum is not a security. She said: But it does provide another perspective that the committee has concluded that it will not take action to claim that ether is a security at this time.

A former SEC lawyer said that the SEC will decide to abandon the investigation, perhaps because it believes that Ethereum is not a security, or because the agency cannot bear too much litigation risk. He further explained: The SEC may come out and say, okay, you know the ETH issued by Consensys is not a securities transaction, but ETH in other forms may be issued by the SEC as a security, or the SEC may make more statements. I think the important thing to remember is that closing the investigation doesn't necessarily mean that they have determined that Ethereum is not a security, it could just be that they have decided that they don't want to risk a lawsuit.

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