Bloomberg analyst calls July 18 ‘best guess’ for ETH ETF launch amidst S-1 amendments

The spot Ethereum (ETH) ETF applicant has amended its registration statement after Bloomberg ETF analyst Eric Balchunas predicted the launch date.

upon July 8Balchunas said his “best guess” for when the fund will launch is July 18, but he would refrain from predicting anything more or less than that because of the uncertainty about the SEC’s plans.

Balchunas said the changes in the latest amendments are minimal. He commented on two of the earliest filings:

“There’s nothing to see here.”

Balchunas said the SEC is asking applicants to submit their applications by today, but is not requiring applicants to declare fees.

“[The SEC] “We will be getting guidance back to issuers shortly with a game plan, then the paperwork will come back with the fees (and all the other blanks) filled in and we can get to work.”

The latest S-1 and S-3 amendments concern the asset manager’s ability to issue ETFs and differ from the previously approved 19b-4 filing, which would allow an exchange to list and trade the fund upon issuance.

Waiver and seed information will be added to the application

Six asset managers – BlackRock Inc., Fidelity Inc., Grayscale Inc., 21Shares Inc., Franklin Templeton Inc. and VanEck Inc. – filed amendments today. Bitwise filed an amendment on July 3.

Franklin Templeton added details about the seed investment, saying seed capital investor Franklin Resources Inc. purchased 4,000 shares at $25 per share, bringing total proceeds to the fund of $100,000.

VanEck said its trust acquired 2,929 ETH from the proceeds of the seed creation basket sale, while BlackRock said its trust purchased 3,031 ETH with the proceeds. In previous filings, VanEck and BlackRock reported initial seed capital investments of $100,000 and $10 million, respectively.

VanEck followed up its previous announcement with an additional exemption clause, stating its intention to waive the first $1.5 billion in sponsorship fees over a one-year period. Bitwise introduced a six-month, $500 million exemption. Franklin Templeton’s amendment maintained the six-month, $100 million exemption clause provided in its previous filing.

The applicant did not add any new sponsorship fees.

In a follow-up development, VanEck announced that Cboe has filed proposed rule change 19b-4 to allow the Spot Solana (SOL) ETF to be listed and traded. The update does not affect the company’s Solana S-1 registration, which it filed on June 27.

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