Ethereum ETF Applicants File Updated S-1 Documents With SEC

Ethereum May Price Prediction: Can ETH Hit $4,000?

Multiple Spot Ethereum ETF applicants have filed updated S-1 documents with the SEC for approval of their ETF products Friday. As the last step before launch, The SEC requested that issuers file new ones to speed up the process of reviewing the ETF products.

BlackRock; Grayscale; VanEck amongst others submitted their S-1s today. The SEC must now review the forms and let issuers know of any final changes needing to be made before ultimate approval. These forms are necessary to offer new securities publicly. This process may take more time for the SEC to process for each filer, especially if the regulator still holds any dissatisfaction for Ethereum ETFs. However, the prediction for a July 2nd launch still looks possible.

For context, Ethereum-based Exchange-Traded Funds (ETFs) are a type of investment fund that holds Ethereum like stocks, commodities, or cryptocurrency. The ETFs trade on stock exchanges similar to stocks. The first round of Spot Ethereum ETF approvals came at the end of May 2024.

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Source: Altcoin Buzz

Ethereum Price Prediction: Can ETH Hit $4K After SEC Decision?

Throughout this year, ETFs have dominated the digital asset sector. The industry’s landmark approval arrived in January, with Spot Bitcoin ETFs launching. The impact was near-immediate, as BTC would reach an all-time high just three months after its debut. The launch of Ethereum ETFs is expected to do the same for Ether upon launch. Already at press time, Ethereum is up 50% since the start of the year. Despite a bearish past month, July and August will be interesting in dictating the future of the asset’s price.

The hype around Ethereum ETFs is even spreading in Europe. UK-based multinational bank Standard Chartered is officially launching a Spot Bitcoin and Ethereum trading desk. Bloomberg reports that the $820 billion bank’s STAN will be used for buying and selling both BTC and ETH directly