Ethereum ETF Launch Potentially Still Weeks Away, Says Bloomberg Analyst

Bloomberg analyst James Seyffart on Monday pointed out that the listing of spot Ethereum ETFs could be weeks or even longer away, despite recent developments.

What Haeppened: At least five potential spot Ethereum ETH/USD ETF issuers, including Fidelity, VanEck, Invesco/Galaxy, Ark/21Shares and Franklin, have filed their amended 19b-4s through CBOE.

These amendments primarily involve the removal of staking-related content, emphasizing that the Fund’s ETH cannot be staked by anyone.

In his tweet, Seyffart stated, “It’s happening. We have at least 5 of the potential Ethereum ETF issuers that have submitted their Amended 19b-4’s in the last ~25 min. Fidelity, VanEck, Invesco/Galaxy, Ark/21Shares, & Franklin all submitted via CBOE.”

Despite these submissions, Seyffart noted that the launch of these ETFs might still be a long way off.

“Still a potentially long way from a launch. But these filings prove that all of the rumors and speculation and chatter have been accurate. Need to actually see SEC approval orders on all the 19b-4s AND THEN we need to see S-1 approvals. Could be weeks or more before ETFs launch,” he explained.

The only substantial change identified in the revised filings was the removal of staking language.

Seyffart said, “This is the only meaningful & substantial change that I can find? Removing the staking language and adding very clear language that the Fund’s ETH cannot be staked by anyone.”

Despite these modifications, the approval odds remain at 75%, as highlighted by Seyffart, though he added, “Not that it even means anything anymore haha.”

Also Read: EXCLUSIVE: Ethereum ETFs Could Drive ‘Mass Adoption’ — What Investors Need To Know Now

Adding to the complexity, Scott Johnsson of Van Buren Capital highlighted the extensive review process the SEC typically undertakes. He explained that the SEC’s review of BTC spot and futures S-1s took several months, suggesting a similar timeline could apply here.

Johnsson said, “SEC spent nearly 4 months reviewing and iterating BTC spot S-1s and 5 months reviewing BTC futures S-1s. If Division of Corporation Finance indeed was told about this potential approval yesterday, then they’re likely just getting started. Nothing about this situation is straightforward, so difficult to know how quickly they try to push forward this process.”

What’s Next: The implications of these developments and other regulatory trends in the digital asset space will be further explored at Benzinga’s Future of Digital Assets event on Nov. 19.

This event will bring together industry leaders, investors, and policymakers to discuss the evolving role of digital assets in the global financial landscape.

Read Next: SEC Could Approve Spot Ethereum ETF ‘This Week:’ Report

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