Ethereum spot ETF applicant submits S-1 filing update to SEC! Former SEC lawyer throws out securities concerns

On the 21st, US time, eight Ethereum spot ETF applicants have submitted updated versions of their S-1 documents, including Bitwise, Fidelity, VanEck, Franklin, 21Shares, Grayscale, BlackRock and Invesco. Bloomberg ETF analyst Eric Balchunas reiterated last night that July 2 will be the launch date for the Ethereum spot ETF.

As for when Ethereum spot ETFs will be approved by the U.S. Securities and Exchange Commission (SEC) for listing, the market is closely watching the progress of the S-1 registration statement. On June 13, SEC Chairman Gary Gensler said that the SEC is expected to approve the S-1 registration application for Ethereum spot ETFs "sometime this summer."

Bloomberg ETF analyst Eric Balchunas revealed on the 15th that he had heard that the SEC had provided issuers with comments on the S-1 documents. These comments were brief and there were no major issues, and they were required to respond within a week. At that time, he said: There is a good chance that (SEC) will formally approve these ETFs next week and resolve this issue before the holiday weekend. We will advance the launch date of the Ethereum spot ETF to July 2.

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

Last night (21), Eric Balchunas announced the list of applicants who submitted updated S-1 documents to the SEC on X. Eight Ethereum spot ETF applicants have submitted their applications, including: Bitwise, Fidelity, VanEck, Franklin, 21Shares, Grayscale, BlackRock and Invesco. Among them, Franklin set its fee at 0.19% last month, 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 the issuer know any final changes that need to be made before final approval. He reiterated that July 2 will be the issuance date for the Ethereum spot ETF.

Former SEC lawyer: SEC's end of Ethereum investigation does not mean that ETH is not a security

There have been many good news about Ethereum recently. On the 19th, Consensys, the parent company of Metamask, the fox wallet, announced that the SEC's enforcement department notified them that they were ending their investigation into Ethereum 2.0, and said that this meant that the SEC would not accuse ETH sales of securities transactions.

Although some communities believe that this is equivalent to the SEC's recognition that Ethereum is a commodity, not a security. But Teresa Goody Guillén, a former litigation counsel at the SEC, said in an email that the SEC's closing 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 point of view that the commission has concluded that it will not take action to claim that Ethereum is a security at this time.

The former SEC lawyer said that the SEC may decide to abandon the investigation 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, well, you know that 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 the end of the investigation does not necessarily mean that they have determined that Ethereum is not a security, it may just be that they decided that they did not want to risk a lawsuit.